Bradenton veterinary clinic sold for $1.1M in leaseback deal

CORTEZ -- The owner of a Cortez veterinary clinic has sold the clinic's property to a Scottsdale, Ariz. sale-leaseback company.

Berglund Properties sold the 3,918-square foot Beach Veterinary Clinic building it owns to Store Capital on Aug. 31. County property records show the $1.1 million sale included a 1,000-square-foot building across the street from the clinic's 4404 124th St. Ct. W. location.

State records show that Berglund Properties is managed by Luke Berglund, the clinic's owner.

Records show that Berglund Properties purchased the two buildings in 2005 and 2007 for a total of $970,000.

Berglund did not respond immediately to a request to comment on the sale.

Store Capital is a real estate investment trust that purchases and manages single-tenant real estate, according to its website. The company owns more than 1,200 properties in 46 states.

Under the terms of a sale-leaseback, a property seller is paid the full value of a piece of real estate, but also signs a lease to rent that property back from the new owner.

This story was originally published September 15, 2015 at 1:33 PM with the headline "Bradenton veterinary clinic sold for $1.1M in leaseback deal."