The new owner of the Belle Aire Plaza Shopping Center at the corner of Florida Boulevard and South Tamari Drive plans to renovate the center and add new tenants after purchasing the 110,000-square-foot property for $1,510,000.
TSAI Property LLC, represented by Minh Thai, bought the center April 9. The seller was Sharon Calloway Bettis and Glenda Calloway. The sale price for the center, which sits on a 9.8-acre lot, works out to about $13.73 per square foot.
“The new owner intends to rehabilitate the center. They intend to open up the side of the building facing Florida Boulevard, and that will give it a whole new look,” says Minh Tran of Ruston Properties, who brokered the deal. “The new owner will also open a specialty grocery store in about fifty to sixty thousand square feet.”
Tran says renovations should begin sometime in the next few months. The original anchor tenant of the center was Home Depot. The home improvement giant long has since vacated the property and the anchor space is now occupied in part by an antique store. Other tenants include St. Vincent dePaul Society, Eccentric Illusions and Mattress Mart.
—Murphy Oil USA recently assembled two sites on the southeast corner of Greenwell Springs Road and Central Thruway in Central, on which the company plans to build a new gas station and convenience store. One site was acquired from the Buhler family for $390,000 and the other from the Davis family for $475,000. Combined, the sites make a 73,000-square-foot corner lot, at a total sale price of $865,000, or $11.85 per square foot. Justin Langlois with Sperry Van Ness/Graham Langlois & Legendre and Mike Falgoust with Mike Falgoust & Associates represented the sellers, while Austin Earhart with Beau Box Commercial Real Estate represented Murphy Oil.
—The office building at 9256 Interline Ave. that once housed the brokerage firm of Reynolds Sumrow & Scruggs has been sold for $413,000. With the building measuring 4,858 square feet, the sale price works out to about $85 per square foot. The seller, Jewel Scruggs, was represented by John Buzzell with NAI/Latter & Blum. The new owner, Oakley Management, was represented by Troy Daigle with Donnie Jarreau Companies and plans to occupy the building.
Appraiser Tom Cook owns Cook Moore and Associates. Reach him at 293-7006 or TCook@cookmoore.com.
