Gayatri Properties buys Wachovia branch

Gayatri Properties buys Wachovia branch

BUYER: Gayatri Properties LLC (principals: Chittaranjan, Yamini, Hiren and Dipal Patel), Port Charlotte

SELLER: Wachovia Bank NA by merger to South Trust Bank

PROPERTY: 3115 Harbor Blvd., Punta Gorda

PRICE: $550,000

PREVIOUS PRICE: $470,000, February 1994

LAW FIRM ON DEED: Meg S. Hixon Esq., Jacksonville

PLANS, DESCRIPTION: Gayatri Properties LLC, led by Chittaranjan, Yamini, Dr. Hiren and Dr. Dipal Patel, of Port Charlotte, purchased a 4,602-square-foot former Wachovia Bank building on Harbor Boulevard north of Tamiami Trial for $550,000. The purchase price equated to $120 per square foot of building space.

Originally built in 1977, the building occupies a 1.01-acre site.

The purchase entity Gayatri Properties LLC mortgaged the property to Regions Bank for $467,500.