Closed Nellie's Deli building in Sarasota to get new restaurant

Tampa, St. Petersburg, Pasco and Polk

The owners of a three-parcel retail property in Pasco County have gotten a mortgage on it for $3.7 million. The three contiguous parcels are on State Road 54 — between the Suncoast Highway and Crossings Boulevard in Odessa — and count McDonald’s, Starbucks and Chili’s as tenants. The property’s owner is an LLC that belongs to Youngstown, Ohio-based Redstone Investments. Kurt DeVries, managing director at Largo Capital, says in an email that Symetra Life Insurance Co. was the lender and that “the terms were for long term permanent financing.” Largo Capital secured the financing and will service the loan as part of its $4.5 billion servicing portfolio. Sarasota-based Largo was founded in 1989 by Gary Coscia. According to its website, the commercial real estate financing firm has $35 billion in total production and works with 27 lenders.

image courtesy of Plaza Advisors