Local investor group buys former Tech Data building

BUYER: Bay Vista Office LLC (principal: John Gerlach), Clearwater
SELLER: Tech Data Corp.
PROPERTY: 5380 Tech Data Drive and a portion of Bay Vista Drive, Clearwater
PRICE: $7.5 million
PREVIOUS PRICE: $2.55 million, May 1987 and $725,000, September 1993
LAW FIRM ON DEED: Carlton Fields Jordon Burt PA, Tampa

PLANS, DESCRIPTION:
A local investment partnership led by John Gerlach, Colliers International's vice president of land and investment services, purchased the Bay Vista Pavilion for $7.5 million.

The price equated to $54 per rentable square foot. That figure is lower than the two-year average price per square foot for office space ($118) in the Tampa Bay area, according to the CoStar Group.