Birmingham, Ala.-based Fairway Investments purchased a 3,817-square-foot Regions Bank branch for $1.5 million.
BUYER: Fairway - Englewood LLC, Birmingham, Ala.
SELLER: BDG 11 LLC
PROPERTY: 11 N. Indiana Ave., Englewood
PRICE: $1.5 million
PREVIOUS PRICE: $925,000, August 2010
LAW FIRM ON DEED: Preston O. Cockey Jr. PA, Tampa
PLANS, DESCRIPTION: Birmingham, Ala.-based Fairway Investments purchased a 3,817-square-foot Regions Bank branch for $1.5 million.
The price equated to $393 per square foot.
The branch is an outparcel to the 46,000-square-foot Publix-anchored Olde Village Englewood, which Fairway Investments already owns.
“It's going to be a Chase Bank,” says Joe Clifton, vice president of Fairway Investments. “It just made it easier for us to own that piece as well.”
The Chase Bank branch is scheduled to open later this month.
Fairway Investments owns nine retail centers in Florida, including Mitchell Crossings in New Port Richey, Shoppes at Citrus Park in Tampa and University Village in St. Petersburg.