Manatee & Sarasota Commercial Real Estate
Two parcels of land on Tamiami Trail in Bradenton. Great location with close proximity to the airport. High traffic counts and visibility. Commercial Zoned, GC/General Commercial. 14th Street West - Parcel ID #6505310026 - .6887 acres 12th Street West - Parcel ID #6505310059 - 1.1616 acres Total...
For Sale: $389,900 Details
Lorraine Corners is a 18,000 SF retail center located on the NW corner of SR 70 & Lorraine Road - Frontage on SR70. Anchor tenants include Dunkin Donuts and Therapeutic Potentials. Desired businesses include dry cleaner, hair salon, gyms and restaurants. Prime opportunities are still available. ...
For Lease: $14 - 16 PSF (Annual) Details
The Miles Media Building is a 28,721 SF two-story, Class-A office building located in the Lakewood Ranch Corporate Park, a 1,273 acre campus-style business park home to over 200 businesses and educational facilities. Miles Media Building has easy access to University Parkway and I-75 as well as close...
For Lease: $15 PSF (Annual) Details
Two flex/warehouse/office buildings available for sublease. Total of 11,651 SF of space available. Building 1 - 5,375 SF includes eight offices, reception area, conference room, storage room, kitchen/break area and plenty of open workspace. Building 2 - 6,276 SF includes warehouse/flex space with...
For Lease: $8,000 (Monthly) Details
Multi‐family development with flexibility for 75 – 115 units. Located in Sarasota County Major Employment Center, ideal for work force housing with additional allowable density. There has been no new rental inventory introduced in Sarasota County since 2002 with a high barrier to entry in areas...
For Sale: See Agent Details
Price Reduced to $140 PSF! Energy Court Condominium is a brand new 10,048 SF office building available for purchase. Located near Lakewood Ranch Boulevard on Energy Court, just south of Professional Parkway, shell construction is complete and ready for interior build out. Minimum 2,459 SF up to - 9,836...
For Sale: $1,406,720 Details
Great Location—Great Price! Located on Clark Center Avenue off of Clark Road. Close to Downtown Sarasota and amenities. Only 1.7 miles to I-75! Unit 4: Shell condition Size: 1,306 SF Price: For Sale $100 PSF For Lease $1,200 per month modified gross
For Sale: $130,600 Details
Small medical office in a great location in Proctor Center just off of US41. Unit H for sale. Former dental lab, with open offices and windows on 3 sides. The space has large-tile floors, with plenty of room and no wasted space. Perfect for any small office user. Listing price may not be sufficient...
For Sale: $125,000 Details
1.22-2.46 AC zoned for general commercial. Fully entitled. Call for entitlement information.
For Sale: See Agent Details
13 Acres fully entitle for 22 single family homes. Property has a 4,000SF+ 3/2 house with a pool on it as well. Call for information on entitlements.
For Sale: See Agent Details
Two Buildings For Lease $14.00 GROSS PSF or For Sale Reduced from $150 PSF to $125 PSF. Located in the Pine Park office park on South Tamiami Trail, just south of Stickney Point Road, these two buildings are offered at an exceptionally attractive lease or sale price. Building E - 7069 S. Tamiami...
For Sale: $307,500 Details
Energy Court Condominium is a brand new 10,048 SF office building available for purchase. Located near Lakewood Ranch Boulevard on Energy Court, just south of Professional Parkway, shell construction is complete and ready for interior build out. Minimum 2,459 SF up to - 9,836 SF. Located in the Corporate...
For Lease: $16 PSF (Annual) Details
2,400 SF of flex space available in the Lakewood Ranch Commerce Park. Features 14' roll-up door in the rear, plenty of open work space, small office space and unique loft area, small kitchenette, and restrooms. Located just off SR 64, less than 2 miles from I-75. From I-75, take SR 64 East. Turn...
For Lease: $10 PSF (Annual) Details
Two Buildings For Lease $14.00 GROSS PSF or For Sale - Reduced from $150 PSF to $125 PSF. Located in the Pine Park office park on South Tamiami Trail, just south of Stickney Point Road, these two buildings are offered at an exceptionally attractive lease or sale price. Building E - 7069 S. Tamiami...
For Sale: $200,750 Details
Great Location—Great Price! Located on Clark Center Avenue off of Clark Road. Close to Downtown Sarasota and amenities. Only 1.7 miles to I-75! Unit 4: Shell condition Size: 1,306 SF Price: For Sale $100 PSF For Lease $1,200 per month modified gross
For Lease: $1,200 (Monthly) Details
Magnolia Green 8 is a brand new single story office building located in the Lakewood Ranch Corporate Park with close proximity to University Parkway and I-75. Magnolia Green 8 provides tenants with the prestige of a larger office building, with the convenience and ease of their own personalized space....
For Lease: $12 - 15 PSF (Annual) Details
With 7,392 Sf available in this 19,928 SF building, this prime office space opportunity is conveniently located in the Lakewood Ranch Corporate Park, a 1,273 acre business park home to over 200 businesses and educational facilities. Great rates, ample parking, and easy access to I-75, shopping, dining,...
For Lease: $14 PSF (Annual) Details
A 3-Story, modern design, Class - A office building for lease. High-visibility location on the corner of Lakewood Ranch Blvd. and Energy Court. Energy Court Center features a fresh, modern exterior with wide open views of the surrounding preserve. With a prime location on Lakewood Ranch Blvd., Energy...
For Lease: $15 - 16 PSF (Annual) Details
Two Buildings For Lease $14.00 GROSS PSF or For Sale $150 PSF. Located in the Pine Park office park on South Tamiami Trail, just south of Stickney Point Road, these two buildings are offerred at an exceptionally low lease or sale price. Building E - 7069 S. Tamiami Trail - 1,606 SF Building D...
For Lease: $14 PSF (Annual) Details
With 25,600 SF available, this prime office space opportunity is conveniently located in the Lakewood Ranch Corporate Park, a 1,273 acre business park home to over 200 businesses and educational facilities. Great rates, ample parking, and easy access to I-75, shopping, dining, and other Lakewood Ranch...
For Lease: $12.95 PSF (Annual) Details
Priced reduced to $16 PSF NNN for this prestigious Class A office building overlooking serene Lake Osprey. Prime location situated amongst nature, residential, retail and commercial on University Pkwy with close proximity to I-75. The perfect environment for your business to prosper. 2nd and 3rd Floor...
For Lease: $17 PSF (Annual) Details
9.8 AC Fully entitled for 59,000 SF of commercial development. Call for entitlement information.
For Sale: See Agent Details
Conveniently located, 2nd floor unit of the Courthouse Square Office Condominium with on-site parking Private elevator Freshly remodeled, with wooden floors, updated kitchen, 4 offices and a conference room. Well-lit offices with plenty of daylight and open, central work area. 2,499 SF office condominium...
For Sale: $337,365 Details
Two Buildings For Lease $14.00 GROSS PSF or For Sale - Reduced from $150 PSF to $125 PSF. Located in the Pine Park office park on South Tamiami Trail, just south of Stickney Point Road, these two buildings are offered at an exceptionally attractive lease or sale price. Building E - 7069 S. Tamiami...
For Sale: $200,750 Details
Two Buildings For Lease $14.00 GROSS PSF or For Sale $150 PSF. Located in the Pine Park office park on South Tamiami Trail, just south of Stickney Point Road, these two buildings are offerred at an exceptionally low lease or sale price. Building E - 7069 S. Tamiami Trail - 1,606 SF Building D...
For Lease: $14 PSF (Annual) Details
One Graphical Reason to Buy CRE
Jan 23rd
Our commercial division of the Sarasota Association of Realtors had Dr. Ted Jones in from Stewart Title to speak on the economy at large and specifically what the year for 2012 had in store for commercial real estate. His presentation was insightful and funny and at other times, downright depressing.
I felt the most interesting comparison came in the following graph and it really cuts through the noise and helps put in perspective why I think 2012 is going to be a much better year for the commercial real estate broker.
Look at the performance of the CRE markets in comparison to Dow Jones and S&P. It’s a no-brainer.
CRE Index Rises for 7th Straight Month | CoStar
Jan 23rd
The CoStar National Composite Index of commercial real estate pricing rose for the seventh straight month since last spring as investment-grade sales made solid pricing gains in November 2011, and the level of distressed sale transactions continued to decline during the month.
The composite index rose 0.6% in November from the previous month, with prices now an average 1.8% higher compared to the same period a year ago, according to this month’s release of the CoStar Commercial Repeat Sale Index (CCRSI), which tracks sale pair transaction data through Nov. 30.
November also brought the second consecutive year-over-year increase in the composite index. Last month, CoStar reported that the index rose 2.2% in October from the same period a year earlier, the first year-over-year improvement in the composite since the U.S. economy took a dive in 2008.
The national General Commercial and Investment-Grade indices both rose over the previous month for the seventh consecutive time since May 2011, boosted by a stabilizing commercial property recovery during the second half of the year.
Despite the gains, the real estate recovery continues to be less robust than previous economic cycles, with the composite index remaining 31.8% below its August 2007 peak during the height of the real estate boom.
The investment-grade index recorded a solid 2.2% increase in November, however, based on 105 sale pair transactions, with average prices now 6.4% higher than the same period a year ago. The general property sales index rose slightly by 0.3%, with prices up 1.1% from the year-earlier period based on 633 transactions.
Good Deals on Retail Portfolios are Hard to Find | NREI Online
Jan 23rd
Given the lack of attractive investment alternatives in today’s environment, credit tenant-anchored class-A shopping centers in core markets offer the best long-term returns for such buyers, says Edward B. Hanley, president of Hanley Investment Group, an Irvine, Calif.-based boutique retail investment advisory firm. Hanley estimates that there are at least 25 institutional investors with profiles similar to DDR and Blackstone looking to score portfolio deals in the retail sector right now. During the third quarter, cap rates for shopping centers were among the lowest in the commercial real estate universe, averaging 7.2 percent, according to a real estate investor survey published by PricewaterhouseCoopers.
The only property types with lower cap rates included apartment buildings and office buildings in Central Business Districts (CBD).
The hitch is that quality retail portfolio deals are getting increasingly difficult to find. Blackstone has been among the most active portfolio buyers last year, picking up Centro Properties Group’s 585-property U.S. shopping center portfolio in March and a 36-shopping center portfolio from Equity One Inc. in September. The firm will likely dispose of as many lower-quality assets as possible then either sell it at a premium or take the holdings public, says Gerry Mason, executive managing director with real estate services provider Savills.
Mason notes that a number of other fund managers, including Kohlberg Kravis Roberts, have turned their attention to retail acquisitions of late. “They all want to know when they can close their next real estate deal, and retail is near the top of the class, right behind multifamily,” he says.
Continue reading at RetailTraffic.com.
Lakewood Ranch Shopping Center Sold
Jan 23rd
M & M Development LLC, a bankrupt Tampa company managed by Annie C. Myara, sold a 21,500-square-foot commercial shopping center at 9114 Town Center Parkway in Lakewood Ranch to Courtyards of Market Square LLC for $1.35 million.
M & M bought the land for $901,565 in June 2002 and borrowed $1.95 million from First Commercial Bank of Tampa bay to build the shopping center that currently houses Goodwill, A.J. Nail Salon, Five Star Pet Salon and a Quiznos.
M & M later filed for Chapter 11 bankruptcy protection in March 2011, listing $3.5 million in assets and $1.7 million in debts.
Its most recent financial report states that it pulled in $6,811 in rental income in December and paid out $18,124 in insurance, legal fees, taxes and other expenses.
Courtyards of Market Square is a Tampa company managed by bankruptcy attorney Albert M. Salem III.
Another Myara company — ACM Realty Group Inc. — recently sold two office condo units at 6286 Lake Osprey Drive in Lakewood Ranch to Lakewood Ranch Orthodontics LLP.
Florida’s Unemployment Dips Below 10%
Jan 20th
Florida’s seasonally adjusted unemployment rate last month dropped below 10 percent for the first time since January 2009.
The December rate was 9.9 percent, the state said Friday.
The state’s unemployment rate was down .1 percent from November
2011 and was 2.1 percent lower than the December 2010 rate of 12.0 percent.
Florida’s unemployment rate has been higher than the nation’s highest since February 2008 and remains above the national average, which is 8.5 percent for December.
Hillsborough, Pinellas and Manatee counties showed non-seasonally adjusted rates of below 10 percent.
The industries gaining the most jobs over the past year were trade, transportation and utilities. Leisure and hospitality, health services, professional and business services and manufacturing also experienced gains, the state said.
Many of the state’s job gains in 2011 paid only about 50 cents more than minimum wage of $7.67 per hour, and many were only part-time jobs, Mark Vitner, senior economist at Wells Fargo, told the CCIM Outlook Conference in Tampa on Friday.
“We are doing better than a year ago, but don’t get giddy,” he said.
Government, construction and information sectors, including newspapers, experienced the biggest losses.
