National firm buys land near T. Rowe Price

BUYER: Ryan Co. US Inc., Minneapolis

SELLER: Sunlake-Equity 1 LLC

PROPERTY: northwest corner of Sunlake Boulevard and State Road 54, Land O'Lakes

PRICE: $1.24 million

LAW FIRM ON DEED: Donna J. Feldman PA, Clearwater

PLANS, DESCRIPTION: Minneapolis-based Ryan Cos. US Inc. purchased 4.83 acres in unincorporated Pasco County for $1.24 million. The price equated to $256,729 per acre.

The Ryan Cos., a national developer, designer and real estate manager, plans to build a 25,000-square-foot single-story office building for an undisclosed company on the site. The location is near 72 acres where investment firm T. Rowe Price plans to build an operations center.

“We have a company that wants to lease it from us and this is where they wanted to be, near the T. Rowe Price campus,” says Gary Bauler, Ryan's vice president of development.

The company hopes to have the building completed by the end of February.

Although Bauler declined to release the name of the future building occupant, he did confirm that it already has a presence in Pasco County and is in a business unrelated to T. Rowe Price.

Founded in 1939 in northern Minnesota, Ryan currently owns and manages 10.9 million square feet of space. The company recently completed construction of a 113,600-square-foot Florida headquarters for the Mosaic Co. in Lithia.