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Business Observer Friday, Dec. 1, 2017 9 months ago

Chess moves, Sarasota style

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The Asolo Repertory Theatre has purchased a pair of Manatee County office buildings adjacent to its existing production and rehearsal space for $2.12 million.
by: Kevin McQuaid Commercial Real Estate Editor

The Asolo Repertory Theatre has purchased a pair of Manatee County office buildings adjacent to its existing production and rehearsal space for $2.12 million.

The theater bought the buildings, totaling 24,240 square feet, from health care supply firm Mercedes Medical Group, which is developing a new headquarters in Lakewood Ranch.

The company's planned $10 million headquarters in the 265-acre Collaboration Opportunities for Research and Exploration park will contain 55,000 square feet.

Mercedes Medical will relocate to its new quarters, from a trio of Manatee buildings, in late 2018. Asolo Theatre will expand its Robert and Beverly Koski Production Center in early 2019.

The theater will use the 7590 Commerce Court and 1071 Tallevast Road properties to create a “state-of-the-art production center.”

The acquisition also furthers the theater's five-year strategic growth plan, says Jag Grewal, a partner in commercial real estate brokerage firm Ian Black Real Estate who represented the Asolo in the transaction. Ian Black's Michele Fuller negotiated on behalf of Mercedes Medical.

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