BUYER: Expressions Realty LLC (principals: Dr. Ramon Padilla and Solymar Santiago-Norat), Naples
SELLER: Shanard Enterprises LLC
PROPERTY: 5052 Tamiami Trail N., Naples
PRICE: $2.1 million
LAW FIRM ON DEED: Law Office of Stuart A. Thompson PA, Naples
PLANS, DESCRIPTION: Dental Expressions, the Naples dental practice of Dr. Ramon Padilla, purchased a 7,216-square-foot office building for $2.1 million.
The price equated to $233 per square foot. That figure is higher than the two-year average price per square foot for office space ($120) in Southwest Florida, according to the CoStar Group.
The practice has announced plans to expand into the space sometime in the fourth quarter.
“[W]e will be basically doubling our square footage, increasing the number of ... treatment areas,” Michelle Tucker, office manager for the dental practice, wrote in an email to the Business Observer. “The current tenants will be out this summer, and then we will begin the 'conversion' process.”
Dental Expressions currently leases space at 5050 Tamiami Trail N., Suite A, Naples.
The purchase entity Expressions Realty LLC mortgaged the property to First American Bank for $1.68 million.