Canadian developers Praetorian Capital buy, renovating former Wellcraft plant

BUYER: Praetorian Capital LLC (Longview Real Estate Inc.), Scottsdale, Ariz.
SELLER: Sarasota Real Property LLC
PROPERTY: 7150 E. 15th St., Sarasota
PRICE: $1.26 million
PREVIOUS PRICE: $6.5 million, January 2010 (includes additional properties)
LAW FIRM ON DEED: Mechanik Nuccio Hearne & Wester PA, Tampa

PLANS, DESCRIPTION: Praetorian Capital, Canadian developers using the Miami investment brokerage Habitribe, purchased the former Wellcraft Marine plant south of Whitfield Avenue for $1.26 million.

The price equated to $6 per square foot. That figure is less than the two-year average price per square foot for industrial space ($46) in the Tampa Bay area, according to the CoStar Group.