Please ensure Javascript is enabled for purposes of website accessibility

Formulated Solutions buys Smith & Nephew buildings

  • By
  • | 1:18 p.m. July 16, 2010
  • Tampa Bay-Lakeland
  • Share

BUYER: Paradigm Investment Properties LLC, Clearwater

SELLER: Smith & Nephew (Latin-America) Inc.

PROPERTY: 11775 Starkey Road, Largo

PRICE: $8.3 million

PREVIOUS PRICE: $345,000, May 2002

LAW FIRM ON DEED: Macfarlane Ferguson & McMullen, Tampa

PLANS, DESCRIPTION: Clearwater-based Formulated Solutions LLC purchased two industrial buildings for $8.3 million.

The price equated to $58 per square foot.

Built in 1988, the 142,000-square-foot industrial facility houses manufacturing, warehouse, office and lab space. It includes 51,000 square feet of clean room space, locker rooms, a video security system, three-phase power, dock and grade level doors, reinforced sealed concrete floors and perimeter fencing.

John Dunphy of Colliers International Tampa Bay Florida represented the seller. The sale is the largest to close in Pinellas County this year, according to the brokerage.

Formulated Solutions is a manufacturing and product development company.

The purchase entity Paradigm Investment Properties LLC mortgaged the property to Regions Bank for two loans totaling $7.83 million.



Special Offer: $5 for 2 Months!

Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.