Good News Friday: Big Deals - May 16, 2014
Eaton Corp., a power management company with 2013 sales of $22 billion, sold its Whitfield Avenue plant to Safran for $4.15 million. Safran completed the purchase of Eaton’s Aerospace Power Distribution Management Solutions and Integrated Cockpit Solutions business for $270 million on May 9. The Aerospace and Cockpit Solutions business employs approximately 350 people at manufacturing facilities in Costa Mesa, Calif., and Sarasota, Fla. The business produces illuminated switches, cockpit panel assemblies, pilot controls and passenger safety unit latches, as well as circuit protection, power distribution and switch components and sub-systems for aerospace and industrial applications. Sales were approximately $102 million in 2013. Eaton has approximately 101,000 employees and sells products to customers in more than 175 countries. Safran is an international high-technology group with three core businesses: Aerospace (propulsion and equipment), Defense and Security. The group has 66,300 employees and generated sales of 14.7 billion euros in 2013.
Richard Smotryski purchased a 1,500-square-foot industrial warehouse at 4235 West 60th St., Bradenton, for $225,000 from Howle Commercial Development, LLC. Sam Watkins of Coldwell Banker Commercial NRT represented the seller and Kathleen Cahil of Scholfield Realty represented the buyer.
William Stamp purchased an industrial warehouse at 23375 Janice Avenue, Unit 14, Port Charlotte, from Frederick Meau and Kathleen Lardiere for $75,000. Ronald Struthers CCIM of Coldwell Banker Commercial NRT represented the seller and Charles Thomas of Maxim Commercial Real Estate LLC represented the buyer.
Hodges, Avrutis and Foeller has recently leased 4,100 square feet of office space at 2033 Wood St., Suite 200, in Sarasota. Linda Emery with the downtown Sarasota office of Sperry Van Ness Commercial Advisory Group handled the transaction. Emery is the exclusive leasing agent for the 52,000-square- foot Wood Street Professional Plaza.
American Nationwide Mortgage Company has recently leased 2,000 square feet of office space located at 40 South Pineapple Ave., Suite 200 in Sarasota. John Caragiulo with Hembree & Associates represented the tenant while Linda Emery with Sperry Van Ness Commercial Advisory Group represented the landlord.
Michigan Commercial Insurance Mutual Company has recently leased 2,193 square feet of office space located at 2033 Wood Street, Suite 100, in Sarasota. Peter Bartys and Linda Emery with the downtown Sarasota office of Sperry Van Ness Commercial Advisory Group handled the transaction.