Sarasota's Rakay Family Investments buys new Clearwater Beach Walgreens

BUYER: Brusue II LLC, St. Clair 152 LLC and Ashtabula II LLC, Sarasota
SELLER: PV-JK Clearwater Beach LLC
PROPERTY: 401 Poinsettia Ave., Clearwater Beach
PRICE: $12.2 million
PREVIOUS PRICE: $1.5 million, April 2012
LAW FIRM ON DEED: Forlizzo Law Group PA, Safety Harbor

PLANS, DESCRIPTION:
Three affiliates of Rakay Family Investments purchased a 25,000-square-foot drug store building for $12.2 million.

The price equated to $488 per square foot. That figure is higher than the two-year average price per square foot for retail space ($138) in the Tampa Bay area, according to the CoStar Group.