Gordon Food Service Inc. buys back Brandon, Fort Myers stores

BUYER: Connacht Realty LLC (CFO: Jeff Maddox), Wyoming, Mich.
SELLER: Gaelic Financial Services LLC
PROPERTY: 730 Brandon Blvd., Brandon
PRICE: $1.96 million
PREVIOUS PRICE: $3.73 million, October 2010

PROPERTY: 3279 Colonial Blvd., Fort Myers
PRICE: $1.89 million
PREVIOUS PRICE: $2.34 million, October 2010
LAW FIRM ON DEED: Foster Swift Collins & Smith PC, Grand Rapids, Mich.

PLANS, DESCRIPTION:
Restaurant distributor and retailer Gordon Food Service Inc. purchased its Brandon and Fort Myers GFS Marketplace stores for a total of $3.85 million.

The combined price equated to $127 per square foot. That figure is less than the two-year average price per square foot for retail space in Southwest Florida ($144) and the Tampa Bay area ($138), according to the CoStar Group.

The Brandon supermarket is 14,937 square feet and was built in 2008. The 6-year-old Fort Myers building is 15,940 square feet and occupies a 2.14-acre parcel.

The seller, Dublin, Ireland-based financial firm Gaelic Financial Services LLC purchased the two retail buildings from the Gordon Food Service's GFS Stores LLC affiliate in 2010. The properties were then leased back to Gordon Food Service.

“Our current store operations are not changing due to this transaction,” Mark Dempsey, spokesman for Gordon Food Service wrote in an email to the Business Observer.

Gordon Food Service has 170 locations in the United States, including GFS Marketplace stores in Bradenton, Brandon, Carrollwood, Clearwater, Fort Myers, Sarasota and St Petersburg.