Ocean Properties buys Chart House properties

BUYER: LB East LLC (principal: Mark, Michael and Patrick Walsh and Richard Ade), Delray Beach
SELLER: Core/PMG Longboat LLC
PROPERTY: 201 Gulf of Mexico Drive, Longboat Key
PRICE: $6.2 million
PREVIOUS PRICE: $5.5 million, August 2004
LAW FIRM ON DEED: Berlin-Patten PLLC, Sarasota

PLANS, DESCRIPTION: Delray Beach-based Ocean Properties Ltd. purchased the Chart House Restaurant building and Chart House Shops for $6.2 million.

The price equated to $334 per square foot. That figure is higher than the two-year average price per square foot for retail space ($146) in the Tampa Bay area, according to the CoStar Group.