SPCA buys Advanced Orthopedics Building

BUYER: Society for the Prevention of Cruelty to Animals, Tampa Bay, Florida, Largo
SELLER: Charles Finn
PROPERTY: 3250 Fifth Ave. N., St. Petersburg
PRICE: $936,000
PREVIOUS PRICE: $1.18 million, December 2006
TITLE FIRM ON DEED: Fidelity National Title of Florida Inc., Clearwater

PLANS, DESCRIPTION:
The Society for the Prevention of Cruelty to Animals (SPCA) Tampa Bay purchased the 12,480-square-foot former Advanced Orthopedics Building east of U.S. 19 for $936,000.

The price equated to $75 per square foot. That figure is lower than the two-year average price per square foot for office space ($119) in the Tampa Bay area, according to the CoStar Group.

The SPCA plans to convert the medical office building into a full-service veterinary hospital. Renovations will begin in the next few months with the hospital expected to open in mid-2016.

Paula Clair Smith of Coastal Commercial Realty represented the buyer, and Erik Anderson of Commercial Partners Realty represented the seller.

The SPCA mortgaged the property to C1 Bank for $2.71 million.