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Sarasota-Manatee
Business Observer Friday, Jan. 3, 2020 8 months ago

Two industrial buildings sell for $6.1 million

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Diventi St. Armands plans to keep the property as an income-producing asset.

Two fully leased industrial buildings in east Manatee County totaling 52,650 square feet have been sold for $6.1 million.

Senior advisor Mike Migone of SVN Commercial Advisory Group coordinated the sale of the buildings, at 5103 and 5107 Lena Road, according to a press release. 

Maraba LLC was the seller, and Diventi St. Armands LLC was the buyer. Migone represented the seller. Michael Hollander and Joe Hembree from Hembree and Associates represented the buyer, the release states. 

“The property consists of 27 1,800-square-foot income-producing units that maintain close to 100% occupancy,” says Migone in the statement. “The low vacancy rate, combined with the prime location just off of Interstate 75 and State Road 70, made this asset very appealing to the buyer.”

Diventi St. Armands plans to keep the property as a fully leased income-producing asset.

 

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