King Plastic president buys 17-acre Toledo, Price corner

BUYER: Price and Toledo LLC (principal: Jeffrey King), North Port
SELLER: Third and Main LC (75% interest) and Cynthia Schalk as successor trustee of the Stephen L. Schalk 2011 Estate Trust (25%)
PROPERTY: northeast corner of North Toledo Blade Boulevard and West Price Boulevard, North Port
PRICE: $1.1 million
PREVIOUS PRICE: $5 million, June 2005
LAW FIRM ON DEED: Pastrnak Law Firm PC, Davenport Iowa

PLANS, DESCRIPTION: A company led by Jeffrey King, president of King Plastic Corp., purchased 16.96 acres of vacant land for $1.1 million.

The price equated to $64,858 per acre. That figure is lower than the two-year average price per acre for industrial space ($336,202) in the Tampa Bay area, according to the CoStar Group.