UPDATED: October 16, 2017 1:59 PM — An investor with plans to spruce up downtown Leesburg has bought the iconic building known as the Leesburg Opera House for $1.13 million.
Located at 401 W. Main St., the buyer was TGRJR, LLC, an investment vehicle managed by Thomas Frost, CEO of Sarasota-based Datum Corp., a provider of consulting, outsourcing and information technology solutions.
Frost declined to comment Friday on his plans for the property, saying he was still about six months from being ready to discuss the project.
The building was built in 1902, and its last sale price was for $388,000 in 2002, per Lake County records. Portions of the building are now used for retail, office and private event space.
The seller was Stoer Building LLC, managed by James L. Miller. He said that Frost has purchased other buildings in downtown Leesburg and elsewhere, restoring them in an effort to revitalize downtown areas.
"He is doing good things for downtown Leesburg," said Miller, a Realtor at ERA Grizzard Realty in Leesburg.
Miller said Frost has acquired and fixed up another downtown building at 214 W. Main St. into the Renew Day Spa.
Akers Media, a publisher of magazines and advertising media, has its offices in the building. Theresa Campbell of Lake and Sumter Style magazine, who interviewed Frost for an article yet to be published, told GrowthSpotter that Frost said he's planning to buy more property in downtown Leesburg with retail and dining renovations in mind.