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Sarasota-Manatee
Business Observer Friday, Oct. 25, 2019 1 month ago

Investor sells fully leased shopping plaza for $6.7 million

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Bennett Plaza is one mile west of Interstate 75.

BRADENTON — Bennett Plaza, a 34,606-square-foot retail property in east Manatee County, has been sold for $6.7 million. The buyer wasn’t named in a statement, and the sale hasn’t been recorded yet in county property records.

The shopping plaza, at 5210 East State Road 64, one mile west of Interstate 75, is fully leased, according to the statement, from Marcus & Millichap. A majority of the leases have annual increases, the release adds, positioning the center for long-term, steady rent growth. Tenants include several restaurants, a florist and a spa/salon. The area surrounding Bennett Plaza is undergoing rapid development, including an apartment complex recently completed across the street.

The center was last sold in 2007 for $3.53 million, according to Manatee County property records. James Medefind, James Garner and Jim Shiebler, investment specialists in Marcus & Millichap’s Tampa office, listed the property on behalf of the seller, a private investor. 

 

 


      

 

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