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TARPON SPRINGS, FL-Three separate Southwest Florida properties have changed hands for an aggregate price of $15.3 million. All three deals are closed.

Eighth Street Partners LLC sold its 96-unit Cypress Place Apartments at 825 Cypress St., Tarpon Springs, to Cypress Place Holdings LLC for $6.2 million or $64,903 per unit. The six two-story buildings sit on five acres 18 miles northwest of Tampa. Marcus & Millichap brokers Bob Goldfinger, Jay Crotty and Tim Johnson represented the seller. The buyer negotiated for itself. “Well located in northern Pinellas County, Cypress Place is poised for significant rent growth in the near future,” says Crotty. The property will continue to be operated as a rental community.

In Fort Myers, Motorsports of Fort Myers Inc., a Florida corporation formerly known as Harley Davidson of Fort Myers, sold its freestanding 46,000-sf retail building at 2160 Colonial Blvd. to Colonial Fort Myers LLC for $4.6 million or $100 per sf. The seller will remain at the premises as a tenant for an additional two years. Paul Sands of VIP Commercial TCN Worldwide negotiated for the seller. Charles Harris of Prudential Florida WCI Realty Commercial represented the buyer.

The vacant, 80,000-sf Laurel Street Commerce Center is being converted to warehouse and office condos at 5402 West Laurel St., Tampa. Cleveland-based Chartwell Group LLC paid Laurel Street Properties Inc. of Tallahassee, FL $4.5 million or $56.25 per sf for the structure at 5402 West Laurel St. Eighteen warehouse units, each totaling about 3,600 sf may be purchased separately or combined, while 18 office units will be available starting at 750 sf, according to the new owner. Renovations are nearly complete at the four-acre property.

Gregory L. Morgan of Sperry Van Ness/Morgan Realty Advisors Inc. in Tampa negotiated for the buyer. Michael Scott of Grubb & Ellis represented the seller. “In the past six months, five new industrial condo development projects have surfaced in the Tampa region,” Morgan tells GlobeSt.com. He cautions, “It’s still too early to tell whether or not this will be a long-term trend” in the region.

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