Southern Technical College buys Grow Financial office

BUYER: Kenneth Dowling as trustee of the STC Brandon Irrevocable Trust, Winter Springs

SELLER: Grow Financial Federal Credit Union

PROPERTY: 608 E. Bloomingdale Ave., Brandon

PRICE: $2.5 million

PREVIOUS PRICE: $975,000, September 1999

LAW FIRM ON DEED: Squire Sanders & Dempsey LLP, Tampa

PLANS, DESCRIPTION: Orlando-based Southern Technical College purchased a 17,022-square-foot office building for $2.5 million.

The price equated to $147 per square foot.

The seller, Grow Financial Federal Credit Union, originally constructed the building as an operations center. But the credit union has since moved and no longer needed the building.

The junior college plans to operate the two-story building, on Bloomingdale Avenue near Maze Lane, as its Brandon campus.

“We liked its size and parking in an underserved location,” says Ken Dowling, senior vice president for the college. “It's in great shape. The interiors are largely unpopulated by walls, which is great for us to have the freedom to create an educational environment.”

The college hopes to start active enrollment for the campus in June, following the accreditation process. It expects to enroll 350 to 500 students, Dowling says.

The campus will be the college's fifth branch. It has existing campuses in Auburndale, Mount Dora, Orlando, and Sanford.

Bill Reeves of Cushman & Wakefield of Florida Inc. represented the seller and John E. Grygiel of Kilgore Real Estate in Brandon represented the buyer.