CLEARWATER – Klein & Heuchan Inc. has successfully represented the seller, D.A. Bennett Company, in the sale of the Shoppes on Sand Key retail center, 1261 Gulf Blvd., Clearwater.
The buyer was RNJ Sand Key LLC. The Shoppes on Sand Key is a 40,000-square-foot waterfront shopping center residing on approximately 3 acres of land. The Shoppes on Sand Key was 98 percent occupied at the time of sale. Major tenants include The Columbia Restaurant, Backwaters on Sand Key, and Dunkin Donuts. The purchase price was $9.1 million. Mark Klein and Steven Klein of Klein & Heuchan Inc. handled this transaction.
“This sale represented one of the few opportunities to acquire a waterfront trophy asset along Pinellas County’s northern Gulf beaches,” said Steven Klein in a press release. Steven is vice president of Klein & Heuchan Inc. “The Shoppes on Sand Key serves a wide area of high demographic residents and tourists and is the only retail center along a five mile stretch of Gulf Boulevard that runs from Clearwater Beach to Indian Rocks Beach. In addition to currently being a strong retail presence, the Shoppes on Sand Key represent a fantastic opportunity for future high density redevelopment.”
Klein & Heuchan sells Ozona condos
Klein & Heuchan Inc. has successfully represented the seller, Flagship Community Bank, in the sale of five industrial condominium units at 290 Bear Ridge Circle, Ozona.
Buyers were the Lind E. Hutton Trust; Corbett Wayne Pendley & Jane Pendley; Guy Pippin; and the Muny Family Limited Partnership. The Bear Ridge Circle Industrial Park was built in 2007 and offers units with 12-foot-by-12-foot roll-up doors and significant parking. Steven Klein and Linda Gardiner of Klein & Heuchan Inc. handled these transactions.
“These industrial condominium units offer a rare opportunity for buyers to purchase a new industrial building in the Palm Harbor area,” said Mark Klein in a press release. Mark is president and CEO of Klein & Heuchan Inc. “As such, demand has been very strong and we have only two units remaining. Ozona has excellent demographics and provides great access throughout north Pinellas County. Klein & Heuchan Inc. continues to provide financial institutions with strategic advice. We have now sold almost $27 million worth of bank owned assets.”