Hot Properties

By Hannah Wallace March 31, 2009

Entrepreneur Brett Price’s search for flex space for his high-end home audio visual system company, Tempus Electronic Lifestyles, yielded little that was large enough and met hurricane codes. So he purchased six acres of land north of the SarasotaBradentonInternationalAirport that was already site plan-approved and built for himself. The result is Pennsylvania Station, a unique complex of three modern office/showroom/warehouse buildings designed by architect George Palermo.

Scott Signs and Topaz Design Group share the first, 10,000-square-foot building. A second, 30,000-square-foot building completed in 2008 will house the Tempus headquarters and another business. The building has about 2,500 square feet for lease.

A third, 20,000-square-foot building is under construction and will be completed within the next six months. Spaces of 5,000 to the full 20,000 square feet are available for build-out at blended rates of $8 per square foot for warehouse and $11 per square foot for office, triple net, including a $30 per square foot tenant improvement allowance. Leasing agent Steve Horn of Ian Black Real Estate is offering tenants a first year teaser, with lower rates of $6 for warehouse and $8 for office for the first year of the lease, including the improvement allowance.

The buildings are made of concrete block and sport a colorful modern façade. They share 153 parking spaces, a higher ratio than usual for office/warehouse space, to accommodate both showroom clients and deliveries. Pennsylvania Avenue is off Tallevast Road about halfway between U.S. 41 and 301 Boulevard (Old 301). "We wanted to provide hip space with cool architecture at an affordable price," says Horn.

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