CTO17 Sarasota LLC has sold an 18,120-square-foot retail property in downtown Sarasota for $4.65 million to an undisclosed buyer. The free-standing building, located at 1900 Fruitville Rd., is currently 100 percent leased to Staples.
George Brusco, CCIM, of Ian Black Real Estate represented the seller, which is part of the Daytona, Florida-based CTO Realty Growth Inc., in the transaction. Kevin Robbins of Harry E. Robbins Associates Inc. represented the buyer.
The seller, CTO Realty Growth, Inc. (NYSE: CTO) is a publicly traded diversified real estate investment trust (REIT) that owns and operates a diversified portfolio of income properties comprising approximately 2.6 million square feet in the United States. The REIT owns eight income property investments in Florida.