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BUYER: Kazarian Realty LLC (principal: David Kazarian), St. Petersburg
SELLER: PHP 5 LLC
PROPERTY: 11880 28th St. N., Pinellas Park
PRICE: $1.65 million
PREVIOUS PRICE: $1.9 million, February 2006
TITLE FIRM ON DEED: Sunbelt Title Agency, Longwood
PLANS, DESCRIPTION: David Kazarian purchased a 32,604-square-foot flex building near HSN for $1.65 million.
The price equated to $51 per square foot.
Kazarian, president and chairman of the board of Infuserve America, plans to relocate the specialty pharmacy company to the second floor of the building and half of its warehouse space.
A Tony Little company previously owned the building.
“They had used it for shipping because of the large warehouse space,” Kazarian says. “They were going to direct shipping so they didn't need all that extra space. We actually wanted to be on the second floor because of hurricanes and floods, and we need more space. ”
The second floor is more than twice the area of Infuserve America's existing St. Petersburg facility.
Kazarian will continue to lease out the bottom floor of the building to two companies. Infuserve America is scheduled to have the space build out and start operating there by January.
Elliott Ross of The Ross Realty Group Inc. represented the buyer.
The purchase entity Kazarian Realty LLC mortgaged the property to Synovus Bank for $1.32 million.
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