HRK Holdings LLC, HRK Industries sells off 26 acres of Piney Point

BUYER: Manatee Bulk Storage LLC, Mayo
SELLER: HRK Holdings LLC and HRK Industries LLC as debtors in possession
PROPERTY: a portion of 1330 U.S. 41 N. and 13500 Scale Ave., Palmetto (includes additional addresses), Palmetto
PRICE: $4.08 million

BUYER: Allied New Technologies 2 Inc. (principals: Robert Namoff, James Palmer, Ronald Rubin and Michel Koven), Miami
PROPERTY: a portion of 1330 U.S. 41 N., Palmetto (includes additional addresses), Palmetto
PRICE: $3.88 million

BUYER: Manatee Bulk Storage LLC
PROPERTY: a portion of 1330 U.S. 41 N., Palmetto (includes additional addresses), Palmetto
PRICE: $652,675.83
LAW FIRM ON DEED: James W. Martin PA, St. Petersburg
PREVIOUS PRICE LISTED ON QUITCLAIM DEED: $4.38 million, August 2006

PLANS, DESCRIPTION:
HRK Holdings LLC and HRK Industries LLC have sold two portions of the more than 600-acre former Piney Point phosphate plant property. The two HRK companies, which are operating under Chapter 11 bankruptcy, sold 13.13 acres to Manatee Bulk Storage LLC for $4.73 million and 12.38 acres to Allied New Technologies 2 Inc. for $3.88 million.

The Manatee Bulk Storage price equated to $360,208 per acre. The Allied New Technologies 2 portion sold for $313,134 per acre.

The two sales are the third and fourth, since the HRK companies acquired the property in 2006. In late 2012, HRK Holdings sold 32.01 acres on U.S. 41 North adjacent to Port Manatee for $6.03 million.

The property became a new manufacturing plant for heat exchangers, which liquefy natural gas. That was followed up in December, when the two HRK firms sold a chemical plant on 8.08 acres in Eastport Industrial Park to Thatcher Chemical of Florida Inc. for $1.58 million.

The sales are part of the bankruptcy plan to help the companies pay off creditors and the continued environmental clean up of the property related to the 2011 release of several million gallons of contaminated water into Bishop Harbor.

Greg Feldkamp and Rick Gillies of Gulf Atlantic Capital Corp. are currently marketing additional portions of the property for sale.

Allied New Technologies 2 Inc. is an affiliate of Miami-based Allied Universal Corp., the largest bleach and chlorine re-packager in the United States.

Manatee Bulk Storage LLC is an affiliate of Mayo-based agricultural retailer Mayo Fertilizer & Farm Supply.