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UNI International, NMT moving to St. Pete Beach
BUYER: J.K. Paul LLC (principal: Joseph Schulte), St. Pete Beach
SELLER: 100 Corey Avenue LLC
PROPERTY: 100 Corey Ave., St. Pete Beach
PRICE: $1.16 million
PREVIOUS PRICE: $300,000, December 2000
LAW FIRM ON DEED: Trenam Kemker Scharf Barkin Frye O'Neill & Mullis, Tampa
PLANS, DESCRIPTION: The owners of freight forwarders UNI International and NMT USA purchased a two-story 8,176-square-foot office building near the Corey Causeway for $1.16 million. The purchase price equated to $141 per square foot of building space.
UNI International and its sister NMT have moved from leased space to occupy the top 4,000-square-foot level. The new ownership is renovating and reconfiguring the bottom floor as an executive suites center called 100 Corey Executive Suites.
“We have five units available right now,” says Sheylla Schulte, co-owner of both companies. “We should have another four there by next year. As far as my research goes there are probably only two executive suites in St. Petersburg. There are a lot of professionals here that are working from home that would be attracted to our nice conference room for meetings and our tastefully furnished offices with views of the water. We're expecting to have a line of people fighting for the space.”
The new owners also plan to offer virtual office space. After nearly eight years renting space in Dolphin Village, Schulte says the owners wanted to own their own space. The new property is also nearly double the size of its leased space.
“Fortunately with modern technology, we could be virtually any place,” she says. “We felt it was a beautiful area that is very calm.”
Agency Marketing Services, which constructed the building in 2003, was acquired by Evolution Underwriting Inc. nearly two years ago.
The purchase entity of J.K. Paul LLC mortgaged the property to Bank of America for $575,000 and $460,000.
Camille Renshaw of Colliers Arnold represented the seller.
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