Clearwater, FL – January 20, 2014 – Klein & Heuchan, Inc. has successfully represented the Seller, Florida Bank in the sale of 290 Dr. Martin Luther King, Jr. Street in St. Petersburg, FL. The Buyer was NE Apartments Associates, Inc. This 18,000 square foot office/retail building had previously been renovated and was occupied by existing tenants paying below market rental rates. The sale also included a parking lot which provides extra parking for the tenants of this property. The sale price was $610,000.00. Steven Klein of Klein & Heuchan, Inc. represented the Seller in this transaction.
Mark Klein, President & CEO of Klein & Heuchan, Inc., stated “this property produced very strong demand from both owner occupants and investors. The St. Petersburg location coupled with the value add nature of the investment made this property very attractive to purchasers. Downtown St. Petersburg continues to generate demand and we have been very successful in selling assets in and around the downtown core. Bank owned properties continue to command attention and our firm has sold a significant amount of OREO into this market”.
KLEIN & HEUCHAN, INC.
Klein & Heuchan, Inc. is an independently owned, full service commercial real estate firm covering west central Florida. The firm handles commercial brokerage, property management, and development services. Our company has built its practice on integrity, service and ethics. For more information and to see a selection of our recently completed transactions, please go to www.kleinandheuchan.com and click on News & Events.