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Tampa Bay Area
Business Observer Thursday, Mar. 10, 2005 13 years ago

Investment group buys industrial building

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by: Adam Hughes Staff Writer

BUYER: Windward Investors LLC (principal: William Feeley), St. Petersburg
SELLER: 6805 33rd LLC
PROPERTY: 6805 E. 33rd St., Sarasota
PRICE: $1.1 million
PREVIOUS PRICE: $635,000, June 2004
TITLE FIRM ON DEED: Barnes Walker Title Inc., Bradenton
PLANS, DESCRIPTION: Windward Investors LL, an investor group headed by William Feeley president of the St. Petersburg-based real estate brokerage Suncoast Realty Advisors Inc., purchased a 20,800-square-foot office/warehouse building on East 33rd Street north of Whitfield Avenue in Prospect Industrial Park for $1.1 million, equal to an average of $393 per square foot of building space. The building was fully leased to several tenants, including contract-lens manufacturer Danker Laboratories, at the time of the sale. The property was purchased as an investment, Feeley says.

“It was a fully-leased, well-priced property,” he says. “We're value-added investors. I own other investment properties but nothing else in Sarasota. My other properties are in Pinellas County, but I go where the opportunity is.”

Originally built in 1984, the building sits on 1.22 acres.

Windward Investors LLC mortgaged the building to Regions Bank for $825,000.

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