SVN Commercial Advisory Group has managed two deals, totaling nearly $6.9 million, for Sarasota-based buyer Zinnia Center. Tony Veldkamp and Matt Fenske completed the deals, which include a former auto club headquarters and a retail plaza—properties that will both undergo renovations for medical office space.
The former AAA Sarasota building, a two-story, freestanding office structure at 3844 Bee Ridge Road, sold for more than $3.4 million. It contains 22,686 square feet. The buyer will convert the first floor to operate a MAXhealth center, with professional office space occupying the second floor. MAXhealth is a multi-specialty medical group with 15+ locations along the Florida West Coast.
A retail plaza at 7441 Manatee Avenue West in Bradenton will also contain a MAXhealth medical office. The plaza, which sold for more than $3.4 million, contains 39,500 square feet and is currently more than 80 percent vacant. The medical office will occupy 4,000 to 5,000 square feet in the plaza. In addition, another new medical tenant will occupy another 5,000 to 6,000 square feet. The plaza was originally slated to be the home of a Lucky's Market; however, the company filed for bankruptcy in January of this year.