RMC Real Estate Services plans new Wawa station

BUYER: 301 & Gibsonton LLC (principals: Michael Leeds and Mitchell Rice), Tampa
SELLER: 9403 U.S. HWY 301 LLC
PROPERTY: 9403, 9613 and 9617 S. U.S. 301, Riverview
PRICE: $2 million
PREVIOUS PRICE: $2.3 million, October 2010
TITLE FIRM ON DEED: All Florida Title Agency Inc., Tampa

PLANS, DESCRIPTION:
RMC Real Estate Services purchased 1.74 acres at the northwest corner of State Road 301 and Gibsonton Drive for $2 million.

The price equated to $1.15 million per acre. That figure is higher than the two-year average price per acre for retail space ($893,571) in the Tampa Bay area, according to the CoStar Group.

The property features a few commercial buildings that the new owner plans to demolish. RMC Real Estate Services plans to start construction in the next 30 days on a 6,000-square-foot retail/convenience store to lease to Wawa Inc.

The new Wawa is scheduled to open on the site in January.

Cory Hopkins, who works in development for RMC Real Estate Services, says the property was particularly attractive because of its location at a high traffic intersection near Interstate 75.

Creigh Bogart of Florida Retail Sites represented the buyer.

The purchase entity, 301 & Gibsonton LLC, mortgaged the property to Bay Cities Bank for $2.82 million.