Major Real Estate transactions in Sarasota and Manatee.
A group of investors purchased the $3.64 million existing mortgage principal on Longboat Key’s Whitney Beach Plaza. The ownership group now includes the 35,000-square-foot property’s former owner, Rich Juliani of JKI Investment Capital in Boston, along with Bradenton attorney Ryan Snyder and other investors. “It’s a great location, but it needs some TLC,” says Snyder, who estimates that all of the exterior surfaces will be renovated by April 2013, then the interiors on a case-by-case basis. The owners have announced plans for a new liquor store, which they will operate.
Manatee County has purchased 37 acres at U.S. 301 and Tallevast Road from Trey Desenberg for $4.7 million. The county plans to build a new transit depot at the site; a $16 million federal grant will help fund the project. Tallevast residents have protested the depot for potential negative effects to the area’s groundwater, which is already contaminated from an old chemical plant.
3890 Greenway, LLC purchased the 130-unit Fairway Crossings Apartments in Sarasota from Fairway Crossing Apartments, LLC for $4 million. Shelly Crofut with Sperry Van Ness Commercial Advisory Group and Howard Sadwin with Premier Commercial Real Estate represented the seller, and Michele Fuller with Ian Black Real Estate represented the buyer.
Venue Sarasota Investors purchased 11 acres of vacant, condominium-zoned land in Lakewood Ranch from Schroeder Manatee Ranch for $3.4 million. Venue Sarasota Investors is a subsidiary of Davis Development, a Georgia-based apartment development company.
New Hampshire Partners, LLC purchased Sleep Inn, a 67-room hotel at 5605 18th St. E. in Ellenton, from Vertical Assets Group for $2.15 million. The property was last sold in 2006 for $5.1 million.
FCC Port Charlotte 4 Guys, LLC has purchased an 8,000-square foot, freestanding Family Dollar store located at 12051 S. McCall Road in Port Charlotte from the seller; Crown Plaza FD, LLC for $1,517,000. Kase Abusharkh with Sperry Van Ness The Kase Group out of Danville, California represented the buyer and Clint Conway with Sperry Van Ness Commercial Advisory Group’s Sarasota office represented the Seller.