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Business Observer Tuesday, Jan. 17, 2017 1 year ago

Architect sells downtown Sarasota building for $1M

The building at 1234 First St. was designed in 1980.

SARASOTA — Architect Guy Peterson and his wife, Cynthia, have sold the downtown Sarasota office building that houses his famed design practice for $1 million.

Performing Properties II LLC, a company controlled by longtime Sarasota real estate investor and philanthropist Dennis McGillicuddy, purchased the 1234 First St. building, according to state records.

Ian Black and Steve Horn, partners at Sarasota commercial real estate brokerage Ian Black Real Estate, represented the Petersons in the sale of the 2,261-square-foot building. Harshman & Co. Inc. broker and president John Harshman represented Performing Properties in the transaction.

The designer's Guy Peterson Office for Architecture is among the best-known modern-oriented firms along the Gulf Coast. Peterson, who has been practicing architecture for more than 35 years, last year received a Gold Medal award from the American Institute of Architects' Florida/Caribbean chapter, the group's highest honor.

“The location of this property couldn't be much better,” Black says, noting that it is within walking distance of a trio of hotels under construction.

He adds that city-led infrastructure improvements also will add value for McGillicuddy's group. The 1234 First St. building was designed in 1980 by another noted Sarasota architect, Tim Siebert, and later updated by Peterson.

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