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Blackrock Development Holdings buys high-traffic school parcels

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  • | 10:00 a.m. July 4, 2014
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  • Manatee-Sarasota
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BUYER: 24/7 Development Holdings LLC, Tampa
SELLER: The School Board of Manatee County, Florida
PROPERTY: 6545 E. State Road 70, Bradenton
PRICE: $2 million

PROPERTY: 5323 and 5603 34th St. W., Bradenton
PRICE: $950,000
LAW FIRM ON DEED: Dye Deitrich Petruff & St. Paul PL, Bradenton

Blackrock Development Holdings purchased two parcels from the School Board of Manatee County for a total of $2.95 million. The developer for MVP Restaurant Partners acquired 10 acres in front of Braden River High School at the northeast corner of Caruso Road and State Road 70 for $2 million and a 1.64-acre parcel adjacent to Bayshore High School for $950,000.

Tim Vining, president of Blackrock Development, says the State Road 70 location will be developed as a PDQ restaurant. It is scheduled to open next year.

However, at this point its unknown if the 34th Street property will be used for either of MVP Restaurant Partners' two restaurants: PDQ and WTF (Wow! That's Fresh)

Vining told the East County Observer that locations near schools fit well with the restaurants' business model. He hopes to launch partnerships with the nearby educational facilities and to work with MTI's culinary students, in the form of menu development and other educational projects.

The East County property marks the second location for the chain located on State Road 70. Construction has started on the other location off State Road 70.

PDQ has six locations open in the Tampa Bay market, with six more under construction.

MVP Restaurant Partners, run by former Outback Steakhouse co-founder Bob Basham and Nick Reader, former chief financial officer of the Tampa Bay Buccaneers, created the two restaurant concepts.
The company plans to have 16 additional locations open statewide before the end of the year, Vining says.

— Reporting by Amanda Sebastiano, correspondent


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