Dentists Buy Site for $400,000

ORLANDO-In a deal noteworthy not for its value but for a fast-developing trend, Greenberg Dental Associates bought a 2.3-acre tract in retail-intense east Orlando for $400,000, or $177,778 per acre.

The dentists paid owner Fred G. Owles $4.08 per sf for the parcel, which will be developed into professional offices. Brokers such as Edward P. Rogner, a senior vice president of Realty Capital/TCN Worldwide who represented Owles, tell GlobeSt.com they are seeing more small businesses and professional groups starting to buy existing buildings or vacant land to build their own offices rather than lease completed space.

The trend has been growing, “especially in the last several months,” Rogner’s colleague Austin Caruso Jr., also a senior vice president, tells GlobeSt.com. “In this entire year, we have seen a tremendous amount of activity, both with small and large users looking for their own buildings.”