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BUYER: KB Tyrone LLC (principals: Robert Schmidt Jr.), Clearwater
SELLER: Betty Ma, as trustee of the Betty T. Ma Living Trust Agreement
PROPERTY: 8275 Bay Pines Blvd., Seminole
PRICE: $2.22 million
PREVIOUS PRICE: $1.97 million, May 2003
LAW FIRM ON DEED: Bryan J. Stanley PA, Clearwater
PLANS, DESCRIPTION: Clearwater-based Boulder Venture South, a development and venture capital firm, purchased a 7,860-square-foot Don Pablo's restaurant for $2.22 million.
The price equated to $1.09 million per acre.
Boulder Venture plans to demolish the building to construct a CVS drug store on the 2.04-acre site. Tarpon Springs-based Hawkins Construction Inc. was hired to build the 12,900-square-foot drug store. CVS is expected to occupy the building in the second quarter of 2011.
The developer will likely resell the CVS site once the drugstore is built, says Boulder Venture CEO Robert Schmidt Jr.
Boulder Venture South has relationships with several large retailers, including CVS, Publix, Target, Office Depot, Starbucks, Sam's Club, Target and Walmart.
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