Vision Development paid $950,000 for the 2,940-square-foot building. Straubinger Inc., headed by Paul G. Straubinger, was the seller, having previously paid $425,000 in March 2006.
Frank Silverman, managing director of Vision Development & Management with partner Mike Metzger, said the building will be leased to Sage Dental after conversion of the interior to conform with its new use. The front façade will also be redone.
"There will be a lot going into creating it as a dental office," Silverman said. "The exterior will probably be updated and painted to give it a fresh new look, a more modern approach."
Rhodes Building Co. of Longwood will handle the work, Silverman said. There is no firm timetable for when the construction will be finished, or Sage Dental will move in.
Silverman said he and his partner bought the property because they liked the neighborhood, and hinted Vision Development might be making further acquisitions nearby.
Straubinger could not be reached for comment.
The former industrial area is experiencing a renaissance and rebranding as South of Downtown, or SoDo. A nonprofit development district has been created to promote the area as a trendy urban activity center, melding retailers, office and mixed-use redevelopment.
"We just love the immediate area; we love SoDo," said Silverman, mentioning its proximity to Orlando Medical Center and UF Health Cancer Center. "We think it's a high-growth area and a vibrant area."
The SoDo district surrounds S. Orange Avenue from Lucerne Circle on the north to Drennen Road on the south, Fern Creek Avenue on the east and S. Division Avenue on the west.
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