Port Charlotte Enzymedica relocating to Venice building

BUYER: Commerce Drive LLC (principal: Thomas Bohager), Port Charlotte

SELLER: Atlas FL I SPE LLC

PROPERTY: 771 Commerce Drive, building A, units 1-16, Venice

PRICE: $1.38 million

PREVIOUS PRICE: $2.2 million, August 2009

LAW FIRM ON DEED: Shumaker Loop & Kendrick LLP, Sarasota

PLANS, DESCRIPTION: An affiliate of Enzymedica Inc. purchased a 41,200-square-foot flex building for $1.38 million.

The price equated to $33 per square foot.

The tilt-wall building was already converted into 15 suites with warehouse space and a 6,400-square-foot office space.

John Gerlach of Colliers International Tampa Bay represented the seller, an affiliate of BB&T, and Jag Grewal of Ian Black Real Estate represented the buyer.

“The building really worked for them,” says Grewal. “They're going to be converting it into a manufacturing plant ... probably spending another $800,000. They didn't want to move too far, because they wanted to be able to retain their employees.”

Work on the regulatory approvals for the improvements was expected to be started soon.

The purchase entity Commerce Drive LLC mortgaged the property to Calusa National Bank for two loans totaling $880,748.

Enzymedica manufactures therapeutic enzyme supplements.