Loading
BUYER: Clearwater Restaurant Properties Inc. (principal: Joseph Orsino), Tampa
SELLER: Tio Pepe Inc.
PROPERTY: 2930 Gulf to Bay Blvd., Clearwater
PRICE: $1.2 million
PREVIOUS PRICE: $125,000, May 1984 and $76,900, 1976
LAW FIRM ON DEED: Fowler White Boggs PA, Tampa
PLANS, DESCRIPTION: The owners of Ceviche Tapas Bar and Restaurants in Florida purchased the 9,056-square-foot Tio Pepe restaurant for $1.2 million.
The price equated to $133 per square foot.
The new owners, Tampa-based Clearwater Restaurant Properties Inc., plan to bring the Ceviche brand to the 34-year-old Spanish restaurant.
“We want to respect the history and culture of Tio Pepe,” says Ceviche Chief Executive Joe Orsino. “We would like to add a courtyard patio with seating, which we feel is attractive to any restaurant. We will also be making some updates inside [because] it's an older building.”
The owners currently operate four other restaurants. There are Ceviche Tapas Bar and Restaurants in Orlando, Sarasota, St. Petersburg and Tampa.
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.
