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Commercial Real Estate
Business Observer Friday, Sep. 9, 2011 8 years ago

Greek investor buys CVS land, nearby site

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Angelos Spyrantis of Greece purchased a 1.7-acre parcel housing a CVS/pharmacy drug store and an adjacent 2.34 acres for $3.15 million.

BUYER: Seryna Enterprises LLC (principal: Angelos Spyrantis), Glenview, Ill.
SELLER: Laurel Knights LLC
PROPERTY: 3520 E. Laurel Road, Nokomis
PRICE: $2.45 million
PREVIOUS PRICE: $2 million, June 2010

SELLER: Knights Associates LLC
PROPERTY: 3507 Knights Trail Road, Nokomis
PRICE: $700,000
PREVIOUS PRICE: $2.55 million, May 2005
LAW FIRM ON DEED: Williams Parker Harrison Dietz & Getzen, Sarasota

PLANS, DESCRIPTION: Angelos Spyrantis of Greece purchased a 1.7-acre parcel housing a CVS/pharmacy drug store and an adjacent 2.34 acres for $3.15 million.

The price equated to $780,304 per acre.

CVS Caremark, which owns the 12,946-square-foot building, signed a 25-year ground lease on the property in 2009. The nearby vacant parcel contains the water retention for the CVS store and a slab for a new building.

Ruben-Holland Development LLC previously owned both lots.

Bob Lorie of Florida Growth Realty represented Ruben-Holland in the CVS ground lease and David Roth of Re/Max Alliance Group represented the vacant parcel. Roth says the property was purchased for its passive income.

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