Sarasota-led investment group buys Palmetto Walgreens building

BUYER: GST Palmetto LLC (principal: Steven Guerrazzi as trustee), Sarasota
SELLER: Harry Todd and B.J. Weeks Partnership (29% interest) and 13540 North Florida Avenue Partnership (71%)
PROPERTY: 930 W. Eighth Ave., Palmetto
PRICE: $3.05 million
PREVIOUS PRICE: $3.38 million, August 2002
LAW FIRM ON DEED: Foley & Lardner LLP, Tampa

PLANS, DESCRIPTION: Investment entity GST Palmetto LLC, led by Steven Guerrazzi as trustee, purchased a 15,120-square-foot drug store building for $3.05 million.

The price equated to $202 per square foot. That figure is higher than the two-year average price per square foot for retail space ($146) in the Tampa Bay area, according to the CoStar Group.