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Real Estate Briefs (Sara/Mana)
Sarasota Investment Group
Plans Office Development
Buyer: CJV Corp. (principal Danny Via), Sarasota
Seller: Creekwood Place LLC
Property: 5103 and 4816 Lena Road, Bradenton
Price: $1.96 million
Previous Price: $463,000, November 2003
Law firm on deed: Livingston Patterson & Strickland PA, Sarasota
Plans, description: Danny Via, who owns Sarasota-based Danny Via Plumbing Inc., is head of an investment group that purchased three lots totaling nearly seven acres on Lena Road. Via plans to build three office condo buildings, varying in size from 30,000 square feet to 17,000 square feet.
Says Via: "We should start selling early next year."
Lloyd Robbins, owner of Harry E. Robbins and Associates Inc., will list the project.
The investment group mortgaged the land to Creekwood Place for $1.12 million and for $340,000 from First State Bank.
Bucks County cycles
replaces Indian Motorcycle
Buyer: Bucks County Custom Cycles Holdings of Sarasota LLC (Jason Heroux and Bruce Shankin), Sarasota
Seller: Sunny Beach LLC
Property: 6051 N. Washington Blvd., Sarasota
Price: $1.3 million
Previous Price: $800,000, January 2003
Law firm on deed: Bradley Hogreve PA, Sarasota
Plans, description: The two partners, who started the Bucks Custom Cycles motorcycle sales and service shop in New Hope, Pa., have opened a new shop in Sarasota. The 8,500-square-foot shop, which will be operated by Heroux, will replace the Indian Motorcycle shop at the U.S. 301 location.
"It was a perfect location," Heroux says. "The retail is great in the area of 301 and University. (The building) was just really set up perfect for us. We also bought a large vacant lot next door to add a cafeteria or restaurant there."
Heroux says he was ready for a change after running a real estate development for several years.
Group buys land
for new Centex development
Buyer: HHUS Land Co. Ltd. Partnership (principals Charles and Virginia Huether), Fort Myers
Seller: M&S LLC
Property: 48th Ave. Drive E. and additional property, Manatee County
Price: $11.2 million
Title firm on deed: Metropolitan Title & Guaranty Co., Naples
Plans, description: A Fort Myers-based investment group has purchased about 94 acres of vacant land in eastern Manatee County. Charles Huether says the property will be developed by Centex Homes as about 200 residential lots.
Investors buy
Good Grove land
Buyer: Good Grove Investments LLC, Sarasota
Seller: Good Grove Inc.
Property: 6671 Wauchula Road and more land, Myakka City
Price: $17.1 million
Previous Price: $2.4 million, March 1987, $5.2 million, May 1989, $1.45 million, June 1987
Law firm on deed: Lutz, Bobo & Telfair PA, Sarasota
Plans, description: A Coral Gables-based investment group has purchased the 3,400-acre Good Grove. Jeff Russell, with the law firm of Abel Band Russell Collier Pitchford & Gordon Chartered and an agent for the investment group, says the investors have no plans to develop the property at the moment. The purchase works out to an acquisition price of $5,029 an acre.
Good Grove Investments mortgaged the property to Farm Credit Southwest Florida for $12 million.
Salem Communications
purchases 10 acres
Buyer: Salem Radio Properties Inc., Camarillo, Calif.
Seller: Shadavrus Capital Trust Inc.
Property: 10-acre piece of land in Sarasota
Price: $1 million
Previous price: $ $190,200, March 2000
Law firm on deed: Pennington Moore Wilkinson Bell & Dunbar PA, Tampa
Plans, description: Camarillo Calif.-based Salem Communications Corp. purchased a 2,000-square-foot building on 10 acres near Pittman and Dogtrack roads in Sarasota. The acquisition follows Salem's purchase and programming change last month of talk radio-station WLSS-AM 930, which broadcasts in Sarasota. Salem Communications officials did not return calls before deadline.
Salem Communications is one of the largest U.S. radio broadcast companies focused on Christian and family-themed programming. The company owns about 104 radio stations, including 66 stations in 24 of the top 25 markets. In addition to its radio properties, Salem owns Salem Radio Network, which syndicates talk, news and music programming to about 1,900 affiliates; Salem Radio Representatives, a national radio advertising sales force; Salem Web Network, a leading Internet provider of Christian content and online streaming; and Salem Publishing, a publisher of Christian-themed magazines.
San Marco II, IMAX center IN legal battle
Lakewood Ranch developer Schroeder-Manatee Ranch Inc. has sued San Marco LLP charging that the developer of San Marco missed contract deadlines for the purchase of the second part of the development. The main charge of the suit is that San Marco's officers failed to verify to SMR that IMAX Theatre negotiations were progressing.
San Marco responded in a press release that SMR was seeking to nullify the contract to keep the 7-acre site. In the press release, San Marco developers said Paul Schuyler, owner of Bethel Cinema, had agreed to own and operate the IMAX and planed to move from Bethel, Conn.
The San Marco Development Co. of Sarasota Inc. is currently building 55,000 square feet of retail/ restaurant space and 10,000 square feet of office space for San Marco phase one. Outparcels have also been purchased by RBC Centura Bank and Prudential Palms Realty.
The second phase of the development was proposed as about 80,000 square feet of retail space and a 19,000-square-foot, 210-seat IMAX Theatre.
SMR is seeking the $100,000 deposit, court costs and damages. San Marco is expecting to file a countersuit.
Etc...
• GMS Investments of Sarasota LLC purchased a 9,750-square-foot building zoned for heavy manufacturing at 1825 60th Place E., Bradenton, from Carl Webb and Vernon Yoder. Jon Kleiber of Richardson Kleiber Walter Kleiber Partners Real Estate handled the transaction.
• Orlando-based Camellia Pointe Ltd. purchased the Gulf Harbor Marina, 100 Circuit Road, Nokomis, from Staudt-Florida Marina Ltd. for $11 million. Camellia Pointe, which used the corporate name of Gulf Harbor Marina LLC and Gulf Harbor Landings LLC for the transaction, mortgaged the land to Keybank for $8.5 million.
• Sarasota developer Harry Rosenblum and George Graham of New York City purchased a retail property at 1501 Laurel St., Sarasota, from Donna Lincks, trustee, for $1.125 million. Rosenblum and Graham, who used the corporate name of South Pineapple Partners LLC for the transaction, mortgaged the property to the former owner for $900,000.
• J&K Real Estate Holdings LLC purchased an 18,818-square-foot lot at 2446 S. Tamiami Trail, Sarasota, from Frank and Ellen Schwimmer for $1,300,000. Ian Black and Steve Horn of Ian Black Real Estate, and Ken Hoskinson from Hembree & Associates Inc. handled the transaction.
• The Sarasota Collection Home Store, LLC purchased a 3,300-square-foot building, located at 616 Central Ave. in Sarasota, from BT Partners, LLC for $613,000. Ian Black of Ian Black Real Estate handled the transaction.
• Kmart, now owned by Sears, Roebuck & Co., purchased the existing Kmart department store at 7350 Manatee Ave. W., Bradenton, from Memphis-based Devonshire Associates and Devonshire Associates Ltd. for $2.85 million.
• An Indiana Beach Retreat LLC purchased A Beach Retreat, 105 Casey Key Road, Siesta Key, from A Beach Retreat LLC for $7.85 million. Florida Division of Corporations show Ronald Whistler, James Trueblood, Daniel Teder and James Andrew Jr., all of West Lafayette, Ind., as members of An Indiana Beach Retreat LLC. An Indiana Beach Retreat LLC mortgaged the property to the former owner for $6.85 million.
• Circle Investors of Sarasota LLC purchased a 22-unit motel, located at 6760 Sarasea Circle, Siesta Key, from Magdaline Koch Trust and John Koch Trust for $4.245 million. Warren Hickernell of Prudential Cascade represented the buyers, and Dan Page and Dan McLeroy of Re/Max Properties Commercial Division represented the sellers.
• Siam Retreat Partners LLC purchased the 16-unit Siam Garden, 512 Spring Ave., Anna Maria, from Siam Garden Resort Group LLC for $4.12 million. The new owner has suggested plans to sell the individual units while maintaining the complex as a resort. The new owner mortgaged the property to SunTrust Bank for $3.36 million.
• Addy's Inn LLC purchased the Addy's Inn motel, 330 N. Tamiami Trail, Nokomis, from Michael and Andy Griffith for $2 million. Jim Walter of Richardson Kleiber Walter Walter Partnership represented the seller, and Linda Bastian of Michael Saunders & Co. represented the buyer.
• AmeriQuest mortgage leased 3,044 square feet of office space at CattleRidge Financial Center, 6000 Cattleridge Drive, Sarasota. Marcia Sevigny of Osprey Real Estate Services represented the landlord in the transaction.
• Leedom & Associates leased 6,256 square feet of office space in the Sarasota City Center, 1819 Main St., Sarasota. Brian Kennelly of Osprey Real Estate Services represented the landlord in the transaction.
• Abanco International leased 4,926 square feet of office space in the Sarasota City Center, 1819 Main St., Sarasota. Marcia Sevigny of Osprey Real Estate Services represented the landlord in the transaction.
• WilsonMiller Inc. leased an additional 2,300 square feet of office space in the 6944 Professional Parkway, Lakewood Ranch. Brian Kennelly of Osprey Real Estate Services represented the landlord in the transaction.
• Aliant Financial Services Inc. and CPA Associates PA leased office space in the Sarasota City Center, 1819 Main St., Sarasota. Marcia Sevigny of Osprey Real Estate Services represented the landlord in the transaction.
• Gentiva Health Services (USA) Inc. leased 3,412 square feet of office space at Live Oak Office Center, 2201 Cantu Court, Sarasota. Marcia Sevigny of Osprey Real Estate Services represented the landlord in the transaction.
• Smith Seckman Reid Inc. has leased an additional 3,700 square feet of office space in the 6944 Professional Parkway, Lakewood Ranch. Brian Kennelly of Osprey Real Estate Services represented the landlord in the transaction.
• HDR Engineering has signed a contract to lease 3,902 square feet of office space at Live Oak Corporate Center, 2601 Cattlemen Road, Sarasota. Marcia Sevigny of Osprey Real Estate Services represented the landlord in the transaction.
• United Investments LLP purchased a 7,500-square-foot office/warehouse building, located at 7212 24th Ave E, Bradenton, in Centre Park, from D & D Dynasty Building, Inc. for $465,000. Mike Sporer and Steve Pimlott of Bosshardt Realty Services, Inc. represented the sellers, and Miker Edwards of Edwards Commercial Realty Inc. represented the buyers.
• Team Body Counselor LLC leased 3,000-square-feet of space at 11017 Arcade Place in Lakewood Ranch, from Capricorn One LLC. Diane Lee of Lakewood Ranch Realty represented the owner, and Marcia Cuttler of American Property Group of Sarasota Inc. represented Team Body Counselor.
• Paradise Communities, a subsidiary of The Paradise Group, has taken out a $3.6 million from AmSouth Bank on its recent purchase of the Kirk-Pinkerton PA law firm building and surrounding property on Orange Avenue in Sarasota.
• The U.S. Tower Division of Taylor Woodrow has announced plans to open Beleza condominium on Venice Beach in November, and The Beach Residences condominium on Lido Key in December. Tom Tosi, vice president of operations at the U.S. Tower Division of Taylor Woodrow, said all 26 residences in the eight-story Beleza on Venice Beach sold before construction started last fall at an average price of $1.2 million. All 88 condominiums at The Beach Residences sold before construction started last summer at an average price of more than $2 million, according to Tosi.
• MilitaryStars, a military career expo company, has relocated several employees to the company's new headquarters, a 3,000-square-foot office suite in the High Pointe Business Center off of Route 301 and 63rd Avenue. The company, created in mid-2004, finds civilian jobs for military upon their discharge from service. The company hosts hiring events throughout the country.
• LAM Management Inc. purchased land on Venetia Bay Boulevard in Venice from Alexarl Florida Co. LLP for $3 million.
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