Nokomis investors buy North Port Place

BUYER: Sarall Ltd. (principals: David and Susan Macrae), Nokomis
SELLER: North Port Place LLC
PROPERTY: 14942 S. Tamiami Trail, North Port
PRICE: $2.8 million
PREVIOUS PRICE: $100,000, September 2002
LAW FIRM ON DEED: Kalis & Kleiman PA, Davie

PLANS, DESCRIPTION:
Investors David and Susan Macrae purchased the 19,360-square-foot North Port Place for $2.8 million.

The price equated to $145 per square foot. That figure is close to the two-year average price per square foot for retail space ($146) in the Tampa Bay area, according to the CoStar Group.

The strip mall houses Pizza Hut, Calusa National Bank and the Humane Society. It was 90% occupied at the times of the sale.

The new owner recently cleaned up the center and changed its landscaping.

Ron Struthers of Coldwell Banker Commercial NRT is marketing two vacant units in the center.

“It's really in the golden mile of shopping from Southfort Boulevard to Tuscola Boulevard,” Struthers says. “Ever since Benderson [Development Co.] broke ground in that area all kinds of new retailers have start showing up.”

The purchase entity, Sarall Ltd., mortgaged the property to Iberiabank for $1.31 million.