Loading
BUYER: Veethree Electronics & Marine LLC (principals: Shekhar Tewatia and Vishal Lalani), Naperville, Ill.
SELLER: Armed Forces Bank NA
PROPERTY: 2050 E. 47th Terrace, Bradenton
PRICE: $1.5 million
PREVIOUS PRICE: $253,700, September 1988
LAW FIRM ON DEED: Norton Hammersley Lopez & Skokos PA, Sarasota
PLANS, DESCRIPTION: Naperville, Ill.-based Veethree Electronics & Marine purchased a 52,050-square-foot former Beall's storage facility in Manasota Industrial Park for $1.5 million.
The price equated to $29 per square feet.
The 22-year-old building features 37,500 square feet of climate-controlled storage, several dock or graded truck bays and 3,300 square feet of office space. It occupies a 4.15-acre site.
William Blalock of Wyman, Green & Blalock Real Estate Inc. represented the seller and Bob Kolton of Michael Saunders & Co. represented the buyer.
Veethree Electronics & Marine declined to comment on the purchase.
The Illinois-based firm purchased the Teleflex instrumentation business in March 2009 and opened an office in Sarasota. That location currently operates from 2420 Trailmate Drive.
Veethree Electronics & Marine mortgaged the building to Bank of America for $1.48 million.
This article has been updated to reflect the building's previous usage and the industrial park where it was located.
Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.
