Tampa urologist buys building, plans cancer treatment center

BUYER: 601 Armenia LLC (principal: Malcolm Root), Tampa
SELLER: Hyde Park Investment Group LLC
PROPERTY: 601 S. Armenia Ave., Tampa
PRICE: $1.3 million
PREVIOUS PRICE: $233,800, January 2003
ATTORNEY ON DEED: Stephen A. Ferra Esq., Clearwater

PLANS, DESCRIPTION:
Tampa urologist Dr. Malcolm Root of Florida Urology Partners LLP purchased a 4,416-square-foot medical office building for $1.3 million.

The price equated to $294 per square foot. That figure is higher than the two-year average price per square foot for office space ($118) in the Tampa Bay area, according to the CoStar Group.

Built in 1997, the building was most recently used as D Hyde Park Cancer Center. Root plans to continue to use the building as a cancer center, according to Sunnie Hartless, an office manager at Florida Urology Partners. She says Root's practice is cancer focused, and the office will house a lab and offer cancer therapy.

The purchase entity, 601 Armenia LLC, mortgaged the property to Branch Banking and Trust Co. for $1.1 million.