- July 23, 2010
BUYER: Florida Retail Stores LLC (Pinnacle Real Estate Inc.), Grand Rapids, Mich.
SELLER: NHLS Exchange III LLC
PROPERTY: 4601, 4605, 4607,4609, 4611, 4615, 4617 and 4623 W. 14th St., Bradenton
PRICE: $2.26 million
PREVIOUS PRICE: $2.55 million, May 2007
LAW FIRM ON DEED: Porges Hamlin Knowles & Prouty PA, Bradenton
PLANS, DESCRIPTION: Grand Rapids, Mich.-based food distributor Gordon Food Service purchased the 26,380-square-foot 41 Center retail strip building on U.S. 41 and Orlando Avenue for $2.26 million.
The purchase price equated to $86 per square foot of building space.
The food distributor plans to demolish portions of the retail center and remodel the remainder to create a 17,000-square-foot GFS Marketplace grocery store and sales office. GFS Marketplace sells restaurant-quality food and food-service supplies to businesses and the general public.
Gordon Food Service is scheduled to have the store completed and open by September, according to Suzette Murchison, marketing coordinator.
“Because of the economy we are in people are shopping more in the warehouse clubs because of the serving sizes and what it costs per purchase,” Murchison says. “We are more of a competitor to Sam's[Club] or Costco, but we are much more focused on restaurant products.”
The store will employ 30 to 35 people and the sales office will employ an additional 10 to 15.
The Bradenton store joins existing stores in Brandon, Clearwater, Fort Myers and St. Petersburg.
Earlier this year, Gordon Food Service purchased the 952,441-square-foot Albertson's distribution center in Plant City with the goal of preparing the company for rapid growth in Florida.