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Two Naples doctors buy Pine Ridge medical office building


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  • | 10:00 a.m. July 11, 2014
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  • Commercial Real Estate
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BUYER: 1250 Pine Ridge LLC (principals: Dr. Diane Brzezinski and Dr. Paul Gardner), Naples
SELLER: Special Acquisitions IV Inc.
PROPERTY: 1250 Pine Ridge Road, Naples
PRICE: $5.9 million
PREVIOUS PRICE: $2.13 million, May 2005
LAW FIRM ON DEED: Bond Schoeneck & King PLLC, Naples

PLANS, DESCRIPTION:
Dr. Diane Brzezinski, an internist with NCH Healthcare System, and Dr. Paul Gardner, a plastic surgeon with Gardner Plastic Surgery, purchased a 28,000-square-foot medical office building for $5.9 million.

The price equated to $211 per square foot. That figure is more than the two-year average price per square foot for office space ($131) in Southwest Florida, according to the CoStar Group.

Constructed in 2007, the two-story building occupies a 2.29-acre site. The Joint Replacement Institute leases the majority of the second floor. The buyers plan to occupy the vacant first level.

The seller, Special Acquisitions IV Inc., is an affiliate of Capital Bank, which foreclosed on the property last year.

Andrew DeSalvo and Matt Stepan of Premier Commercial Inc. represented the seller and Michael Metcalf of Amerivest Realty represented the buyer.

The purchase entity, 1250 Pine Ridge LLC, mortgaged the property to Branch Banking and Trust Co. for $5 million.

 

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