Clearwater-based Formulated Solutions LLC purchased two industrial buildings for $8.3 million.
BUYER: Paradigm Investment Properties LLC, Clearwater
SELLER: Smith & Nephew (Latin-America) Inc.
PROPERTY: 11775 Starkey Road, Largo
PRICE: $8.3 million
PREVIOUS PRICE: $345,000, May 2002
LAW FIRM ON DEED: Macfarlane Ferguson & McMullen, Tampa
PLANS, DESCRIPTION: Clearwater-based Formulated Solutions LLC purchased two industrial buildings for $8.3 million.
The price equated to $58 per square foot.
Built in 1988, the 142,000-square-foot industrial facility houses manufacturing, warehouse, office and lab space. It includes 51,000 square feet of clean room space, locker rooms, a video security system, three-phase power, dock and grade level doors, reinforced sealed concrete floors and perimeter fencing.
John Dunphy of Colliers International Tampa Bay Florida represented the seller. The sale is the largest to close in Pinellas County this year, according to the brokerage.
Formulated Solutions is a manufacturing and product development company.
The purchase entity Paradigm Investment Properties LLC mortgaged the property to Regions Bank for two loans totaling $7.83 million.