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Business Observer Wednesday, Aug. 10, 2022 1 month ago

Lakewood Ranch commercial property sells for more than $2 million

The former bank branch building will become a dentist’s office.
by: Louis Llovio Commercial Real Estate Editor

The former PNC Bank branch on Town Center Parkway in Lakewood Ranch has sold.

The building brought $2.2 million.

SVN Commercial Advisory Group, which handled the sale, says the buyer is Monticciolo Family Holdings from Tampa. The company operates Monticciolo Family & Sedation Dentistry which has 11 offices across Tampa Bay. This new 3,400-square-foot office will be its first in Manatee County.

Jake LaFemina, an agent with the firms, says transformations of properties like this are becoming more common.

“As people do more and more of their banking online, there’s less need for buildings customers can visit,” he says. “Many bank branches are limiting some locations and offering a higher level of virtual services. But many other businesses, including medical practices, are always going to need physical facilities.”

The PNC branch closed after the bank announced it was shuttering about 280 branches in 2020.

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