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Real Estate Briefs (Sara/Mana edition)
Band, Allen, McKay
buy old city hall
Developers David Band and Ron Allen, former state Senate President John McKay and Chip McCarthy, son of the previous owner, purchased the former Bradenton City Hall property at Manatee Avenue West and 15th Street from Dottie McCarthy for $2 million. Allen says the new ownership group does not have a clearly defined plan, but "it was such a unique setting ... in such a good location that we couldn't pass it up." Allen, president of NDC Construction Co., says: "We think there is just such a bright future in downtown Bradenton ... with the riverfront and the new judicial center."
The $2 million purchase price was just the land value for the 3.7 acres. "We will definitely be tearing (the building) down," Allen says. "It should be down in the next 60 days. We are planning to build a mixed-use project. We have land planners working on it now. We will just have to see what fits."
Allen says the new owners have been trying to buy the 14,328-square-foot building as far back as its initial offering from the city almost five years ago. The building has remained largely vacant since the city relocated to its current Main Street location in November 1998.
Manatee County designs
new waste water lab
Manatee County government has filed a site plan to construct a new waste water testing laboratory for the Southwest Regional Water Treatment Plant at 4725 66th St. W. in Bradenton. According to David Greene, project manager, the laboratory staff had been housed in the existing administrative building, but they are running out of space.
"The new lab will be 7,600 square feet," says Greene. "The lab is required to monitor the plant's effluent quality. With flow rates growing and space as tight as it is, it was just time for a new facility."
The county has subcontracted URS Inc. of Tampa to design the facility. A general contractor has not yet been selected.
"We need space for chemical storage and lab analysis," Greene says. "It also has to meet specific ventilation requirements. There are also new regulatory requirements that just went into effect. Overall, a new facility is the most cost-effective solution."
Construction on the new lab, estimated to cost about $2.1 million, is expected to start in May.
Starling plans medical
facility for Health South
Fred Starling, president of Sarasota-based The Starling Group, filed a site plan to build a long-term acute care facility for Health South on Bee Ridge Road in Ridge Lake Business Park on the northeast side of Interstate 75. "We hope to break ground soon, in the next couple weeks," says Sue Alt, with the Starling Group. The 40-bed, about 45,000-square-foot facility will be built and owned by Starling and leased to Health South.
McClain Sonics Inc.
plans Venice restaurant
McClain Sonics Inc. of Ridgeland, Miss., purchased commercial land at 4250 S. Tamiami Trail, Venice, from Yomar Restaurant Inc. for $525,000. In 2002, McClain Sonics signed an agreement with Sonic Corp. to build 20 drive-ins in the Sarasota-Manatee area within five years. So far, the company has developed two Sonics in Bradenton: one on State Road 64 and another near Bayshore Gardens Shopping Center at 6008 14th St. W. This new purchase marks the company's first acquisition in Sarasota County.
The typical Sonic Drive-In features a 1,200-square-foot building, used as a kitchen, about 30 drive up stalls for ordering food and 10 outdoor picnic tables.
Buddy McClain, CEO of McClain Sonics, says the company typically hires about 75 people for each location.
"We have cleared the site," says Jack Cox, president of Sarasota-based Halfacre Construction Co. the general contractor for the project. "We are just waiting on building permits. We should have it completed by mid-May."
Towne Hembree building
sells for $6.4 million
RLM LLC and Enterprise Circle LLC have purchased the almost 3-year-old Towne Hembree office building at 8430 Enterprise Circle, Lakewood Ranch, from Towne Hembree LLC for $6.4 million. The 32,000-square-foot building is now the home of Taylor Woodrow Homes' North American Division, Homes by Towne, K. M. Development Corp. and Kerkering Barberio & Co. The building is situated between The Northern Trust building and the Town Hembree II building at the corner of Lakewood Ranch Boulevard and University Parkway.
The new owners mortgaged the property to Independence Community Bank for $4.35 million.
Steve Ross, of Hembree & Associates, handled the transaction.
Etc...
× Exit Realty has leased 4,400 square feet at 8181 S. Tamiami Trail from Orion Bank. Rico Boeras PA, of Preferred Commercial Inc., represented the lessor for the transaction.
× Construction has started at the Beach Residences, a luxury condominium the U.S. Tower Division of Taylor Woodrow is developing adjacent to the recently completed Ritz-Carlton Members Beach Club on Lido Key in Sarasota. Tom Tosi, project director at Taylor Woodrow, said general contractor Boran Craig Barber Engel Construction (BCBE), which began site preparation work in January, has started pouring the foundation for the 12-story, 88-unit tower. The estimated cost of construction is $55 million.
× Stephen Proctor's 741 Central LLC purchased a 4,200-square-foot retail building at 5225 S. Tamiami Trail in Sarasota from Rodney & E.P. Dessberg for $1.3 million. Ian Black of Ian Black Real Estate represented the buyer, and Charles Palmeri of Prudential Palms Realty represented the seller.
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