Places This Week: Medical manufacturer leases back HQ
A weekly roundup of local real estate deals.
Medical manufacturer leases back its Largo HQ
Apyx Medical Corporation, a medical device manufacturer, has sold its Largo headquarters in a $7.65 million deal; however, it will continue to operate in the facility as a tenant.
The VK LLC entity, which is connected to the Illinois-based Venture One Real Estate, purchased the 60,750-square-foot Largo manufacturing facility at 1551 Ulmerton Road.
Earlier this month, Apyx Medical (NASDAQ: APYX) executed a 10-year agreement to lease back the Clearwater property from the VK entity.
Apyx Medical manufacturers helium plasma and radiofrequency technology through its Renuvion product, which recently received clearance from the U.S. Food and Drug Administration (FDA) to be used for post-liposuction procedures.
The company, which has another manufacturing plant in Bulgaria, forecasts it will earn $59 – $62 million in revenue this year, according to its quarterly earnings report released Thursday.
Pinellas Park industrial site sells
Suddath Van Lines has sold multiple industrial buildings in Pinellas Park.
Largo-based Tinz Industrial Park Inc. purchased the parcels at 4760, 4756 and 4600 122nd Ave. N. in a $7.25 million deal.
The entire property includes 85,492-square feet of warehouse space.
The buyer took out a $2.5 million mortgage loan from Republic Bank and Trust Company.
Clearwater apartment complex sells
A Clearwater apartment complex at 1132 Auburn St. has traded hands.
Auburn Village LLC sold the 15-unit Shepard’s Village Apartments complex to Miami-based Sunny Capital Inc. in a $2.575 million deal.
The building is located in unincorporated Clearwater and can be used as an Airbnb property, according to a Loopnet listing.
The two-story building was constructed in 1981 and is on a 1-acre lot.
The buyer took out a $2.1 million mortgage loan from an entity connected to Chicago-based Renovo Financial.
Assisted living facility sells
The assisted living Heritage House facility has sold.
Innovation Senior Management Holdings LLC sold the 7,379-square-foot facility at 1810 S. Belcher Road in Largo in a $1.375 million deal.
The buyer, Kinlu LLC, is the owner of the Azalea Manor assisted living facility in St. Petersburg.
The Heritage House has one-bedroom apartments and companion suites. It can house up to 24 residents.
The amenities offered include a beauty/barber shop, a TV room and a garden area.
May 13, 2023at9:29 am
Fishing piers available to everyone were removed from Sand Key but now there seems to be millions of dollars available to private companies; something smells.