Tag Archives: sarasota

Work starts on downtown Sarasota Taco Bus, bowling alley… News on World of Beer, Evies, Beer Box, etc…

Work starts on downtown Sarasota Taco Bus, bowling alley… News on World of Beer, Evies, Beer Box, etc…

by: Alex Mahadevan

Taco Bus is another step closer to opening in downtown Sarasota, as construction started Monday on several Main Street storefronts to make way for the Tampa-based Mexican restaurant.

“Besides having two awesome companies on Main Street, this will be two firsts for Main Street,” said entrepreneur Jesse Biter, who owns the property. It will be the first 24-hour venue in Taco Bus, and the first bowling alley, which will be located within an Evie’s business.

Construction will force the closure of a portion of the sidewalk in front of 1560 Main Street for the next 30 days, and the project will be complete in less than seven months, Biter said.

The project is expected to cost roughly $1 million, according to city of Sarasota spokeswoman Jan Thornburg, and includes interior renovations and a right-of-way permit to build parking spaces.

CLICK HERE <—-=== For complete article

Manatee County cropland in Parrish, sells for nearly $17,000 per acre

Manatee County cropland in Parrish, sells for nearly $17,000 per acre

By Michael Braga , Herald-Tribune

G&D Farms Inc., a Plant City company managed by Gary Wishnatzki, sold 825 acres of cropland and a 44,185-square-foot warehouse at 37381 SR 62 in Parrish to Wauchula Road Duette LLC for $13.765 million, or nearly $17,000 per acre.

Click here <—–==== for complete article

Murdock Plaza in Port Charlotte, FL Sells for $5M

Murdock Plaza in Port Charlotte, FL Sells for $5M

By Armaan Khatami
October 8, 2014

A private investor acquired the Murdock Plaza shopping center at 1700 Tamiami Trl. in Port Charlotte, FL from another investor for $4.98 million, or about $60 per square foot.

The 82,500-square-foot retail strip was built in 1990 and has over 440 parking spaces. It sits on 9.5 acres in the Charlotte County submarket, and is the main portion of the Murdock Square shopping center.

Whole Foods building in downtown Sarasota, sells for $19 million (includes Starbucks, etc)

Whole Foods building in downtown Sarasota, sells for $19 million (includes Starbucks, etc)

by: Alex Mahadevan

A Daytona Beach real estate firm is betting on a bright future for downtown Sarasota with the purchase of Whole Foods Market Centre.

Consolidated-Tomoka Land Co. bought the 59,000-square-foot retail center for $19.1 million, according to a news release. Whole Foods has another 10 years left on its lease, but the remaining 23,000 square feet will afford the company “the opportunity to further enhance our returns beyond the initial yield of this investment as downtown Sarasota continues to grow, with a projected 1,000 hotel and urban residential units expected to be delivered over the next five years,” said Consolidated-Tomoka President and CEO John Albright in the release.

There are less than three years remaining on the other leases on average, which includes a Starbucks. The property also includes a parking garage, and sits adjacent to parcel entrepreneur Jesse Biter has slated for a 180-unit apartment complex.

CLICK LINK for complete story and others – http://www.yourobserver.com/news/sarasota/Front-Page/1008201436529/Whole-Foods-building-sells-for-19-million#sthash.VDUFo75Y.dpuf

Benderson buys space in Southgate Mall in Sarasota, FL

Benderson buys space in Southgate Mall in Sarasota, FL

by: Pam Eubanks

Benderson Development Company today closed on a 7.5-acre parcel owned by Dillard’s at Southgate Mall. The company spent $10 million on the property.

Benderson’s Director of Development Todd Mathes Benderson is waiting to see Southgate’s redevelopment plans before deciding what to do with the parcel.

“We’re pretty excited about the opportunity and to co-redevelop the property,” Mathes said. “As soon as (the mall is ready with their plan), we’ll be ready to react.”

The store could be leased to one tenant or subdivided, he said.

The prolific developer, which is part of the team behind the Mall at University Town Center, also bought office space near Pelican Plaza, which it is also currently redeveloping. A firm managed by Benderson spent $1.1 million on the parcel at the intersection of South Tamiami Trail and Marcia Street.

- See more at: http://www.yourobserver.com/news/east-county/Front-Page/1003201436448/Benderson-buys-space-in-Southgate-Mall#sthash.hgDoMzIt.dpuf

Sarasota Motel Owner outlines vision for North Tamiami Trail and revitalization of the North Trail

Sarasota Motel Owner outlines vision for North Tamiami Trail and revitalization of the North Trail

by: David Conway

By renovating his North Trail motel — and embracing some of its distinctive characteristics — Jay Patel hopes he can become a catalyst for long-awaited change in the area.

Patel owns the Regency Inn and Suites at 4200 N. Tamiami Trail. He’s been a part of the North Trail Redevelopment Partnership since 2007, and has served as a prominent voice calling for the revitalization of the area since then.

Patel said the North Trail is slowly improving — he points to the addition and success of Yummy House as an important step — but for all the talk about redevelopment, the area is still lagging behind where he’d like it to be.

The motels that line the trail are one of the most frequent targets of criticism. Although they vary in quality and character, taken together, they’re seen as symbols of the prostitution, drug-dealing and general delinquency that color many people’s perception of the northern part of U.S. 41.
As someone who was motivated to change that perception on a large scale, Patel decided the change could start with himself.

“I thought, OK, instead of just talking, let me step up and walk the walk,” Patel said.

Patel is pouring $450,000 into remodeling, repainting and otherwise upgrading his facility, but the makeover won’t render the property unrecognizable. Rather than demolish the motel and building anew, Patel hopes to highlight some of the distinguishing mid-century design of the motels that dot the North Trail.

Despite his interest in revitalizing the North Trail, the concept that some parts of the area were worth highlighting was initially difficult for Patel to accept. The more he talked with people who lived near or brought their businesses to the trail, though, the more he heard that they didn’t want broad change.
These people, Patel said, liked the funky character of the trail. They wanted to draw attention to the design behind the motels, to maintain the history even as things were cleaned up. Eventually, Patel heard enough that he became convinced it was a viable option for the Regency Inn.

“I didn’t believe in it before,” Patel said. “Now, I see there are demographics out there that want this kind of facility.”

The project has become a collaborative community effort. He’s gotten design help from architect David Morriss, president of the Indian Beach/Sapphire Shores Neighborhood Association. Sarasota City Manager Tom Barwin has endorsed his efforts after a trip to the property, Patel said.

Click Here for the full article

Taylor Morrison pays $11.3 million for Palmer Ranch land in Sarasota, FL

Taylor Morrison pays $11.3 million for Palmer Ranch land in Sarasota, FL

By Michael Braga , Herald-Tribune

Wynnstay Hunt Inc., a Sarasota company managed by Hugh F. Culverhouse and Justin Powell, sold 59 acres of commercial land in the Palmer Park of Commerce to Taylor Morrison of Florida for $11.3 million, or $191,500 per acre.
Culverhouse paid $8.3 million for the land in August 1997.
In May of this year, another Culverhouse company sold 33 acres of commercial land in Palmer Ranch to Divosta Homes for $8.1 million, or $245,000 per acre.
Taylor Morrison already owns 213 acres in Palmer Ranch that it bought in March 2013. It is developing a 267-home subdivision dubbed Arbor Lakes on Palmer Ranch.

10-unit Apartment Building SOLD in Sarasota, FL by NAI Tampa Bay’s Senior Director Sean Dreznin

Highly Desired Apartment Complex SOLD in Sarasota, FL by NAI Tampa Bay's Senior Director, Sean Dreznin

Highly Desired Apartment Complex SOLD in Sarasota, FL by NAI Tampa Bay’s Senior Director, Sean Dreznin

MarketEdge Update

Sarasota 10-unit Apartment Complex
CLICK PHOTO FOR OFFERING DETAILS

Contact Sean Dreznin for more information and to sign a CA

Contact Sean Dreznin for more information and to sign a CA

PROPERTY HIGHLIGHTS

Highly Desired Apartment Complex SOLD in Sarasota, FL by NAI Tampa Bay's Senior Director, Sean Dreznin

Highly Desired Apartment Complex SOLD in Sarasota, FL by NAI Tampa Bay’s Senior Director, Sean Dreznin

  • Location, Location, Location!
  • Long Term Success!
  • Near Elementary & High Schools
PROPERTY DETAILS
Purchase Price: $703,500
Property Type: MultiFamily
Rentable Sq. Ft.: 0
Cap Rate: 7.50%
Number of Units: 10
CONTACT INFORMATION
Senior Director

Sean Dreznin

SDR@NAITampaBay.com

941-961-8199 (direct)

Sarasota 10-unit Apartment Complex

2170 proctor rd
Sarasota fl 34231

Some Manatee apartment buildings, condos going smoke-free

Some Manatee apartment buildings, condos going smoke-free

BY RICHARD DYMOND via Bradenton.com

Tony Lear, a firefighter/EMT with the Southern Manatee Fire Rescue, deals with smoke in his work.

There’s no way he wants it at home, he said recently.

Lear also is aware that studies have shown approximately 70 percent of air is shared between multi-unit housing.

Lear knows tobacco smoke can move along air ducts, through cracks in the walls and floors, through elevator shafts and along plumbing and electrical lines affecting units that are nearby.

“If someone is smoking in one apartment, their neighbor is most likely inhaling secondhand smoke,” said Megan Jourden, community health specialist with the Florida Department of Health in Manatee County, also known as the Manatee DOH.

All that is why it was important to Lear and his wife, Kathryn, to find a Manatee County rental apartment in a completely non-smoking building.

The search wasn’t as easy as he thought it would be.

There are roughly seven apartment and condos in Manatee County that have followed a current national trend and gone either completely or partially smoke-free so occupants won’t have to breathe in secondhand smoke, Jourden said.

One of the seven is Lost Creek at Lakewood Ranch, owned by Community Property Management just off Lakewood Ranch Boulevard, across the street from the Manatee Technical Institute’s East Campus.

Dockside, Balfour Beatty to Develop 260-Unit Apt Project ** Midrise Project Will Be First Market-Rate Multifamily Development in Largo In Two Decades

Dockside, Balfour Beatty to Develop 260-Unit Apt Project

Midrise Project Will Be First Market-Rate Multifamily Development in Largo In Two Decades
September 17, 2014
Florida based multifamily developer Dockside Investors VII is breaking ground this month on a 260-unit multifamily development in Largo, FL in the Tampa Bay metro.

The Boulevard, a three- and four-story apartment community at Ulmerton Road and Seminole Boulevard, will consist of 260 units.