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Commercial Real Estate Transactions Sarasota-Manatee

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  • | 5:07 p.m. April 10, 2009
  • Manatee-Sarasota
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Wisconsin entrepreneur buys Helping Hands

BUYER: Rehn Properties LLC (principals: Karen Rehn), Bradenton
SELLER: Christine and Diana Davis
PROPERTY: 1215 Bayshore Gardens Parkway, Bradenton
PRICE: $800,000
PREVIOUS PRICE: $164,900, July 2006
LAW FIRM ON DEED: Voigt & Voigt PA, Sarasota
PLANS, DESCRIPTION: Karen Rehn purchased a 3,249-square-foot office building on Bayshore Gardens Parkway near Avenue T S in Bradenton for $800,000, equal to an average of $246 per square foot of building space. Rehn, who owns the business brokerage Acquisitions Business Advisory Services in Pewaukee, Wis., purchased the building as part of her acquisition of the full-service staffing agency, Helping Hands Staffing Services, from Christine and Diana Davis. The firm employs an in-house staff of seven and from 30 to 100 temporary employees working for its clients.

“I'm planning to grow it and add other divisions, such as my business brokerage business,” Rehn says. “I'm going to be upgrading the software, expand it into more professional and medical staffing services. I'm also planning to add services like drug screening and payroll.”

Rehn plans to renovate the offices and potentially configure some of property as rentable office space.

The purchase entity Rehn Properties LLC mortgaged the property to The Huntington National Bank for $950,000.

New Jersey investment group
buys lender-owned homes, lots

BUYER: J-11 Properties LLC, Oakhurst, N.J.
SELLER: Fifth Third Bank
PROPERTY: lots 1-18, 21, 22, Tracts A and B, Hebblewhite Court and lots 1-28, 33-44, 53-65 and 67-76, Arlington Cove, Englewood
PRICE: $2.45 million
LAW FIRM ON DEED: Glenn Rasmussen Fogarty & Hooker PA, Tampa
PLANS, DESCRIPTION: J-11 Properties LLC, a five-partner investment group based in New Jersey, purchased 20 attached-homes in Hebblewhite Court and another seven attached-homes and 56 lots in Arlington Cove from Fifth Third Bank for $2.45 million, equal to an average of $29,518 per property.
The new ownership, which includes Kurt Scrudato of Pine Island, has hired The BRC Group LLC in Boca Grande to market the properties. As of April 2, the brokerage had 19 of the 27 homes under contract to sellers, according to Brian Corcoran, broker for The BRC Group.
“What this really shows is that if you can offer value, the buyers will come out in force,” Corcoran says. “These units are being purchased as-is, but J-11 Properties understands that some things need to be taken care of before they are move in ready. They're all being professionally cleaned on the interiors and power washed on the exteriors. We're going to do substantial work to get the sprinklers working again and following that to fix the landscaping.”
The new ownership also plans to complete the community pool at Arlington Cove. The Arlington Cove home units are being listed for $139.999, and Hebblewhite Court units are being listed for $159,999. All of the homes are 1,579 square feet and have three bedrooms and two bathrooms. The BRC Group plans to start marketing the lots as a portfolio to homebuilders sometime later for a total of $1.12 million, equal to $20,000 per lot.

Ornaments companies buy
Sarasota warehouse building

BUYER: In Tandem Inc. (Joseph and Susan Brielmann), Sarasota
SELLER: United Investments LLP
PROPERTY: 7212 E. 24th Court, Sarasota
PRICE: $400,000
PREVIOUS PRICE: $465,000, July 2005
LAW FIRM ON DEED: Hankin Persson Davis McClenathen & Darnell PA, Sarasota
PLANS, DESCRIPTION: Joe and Susan Brielmann, owners of the Sarasota-based Christmas ornament company Rudolph and Me Inc. and the piggy-bank company This Little Piggy Inc., purchased a 7,500-square-foot warehouse building on 24th Court East west of U.S. 301 near the couple's two existing warehouse building for $400,000, equal to an average of $53 per square foot of building space. Last year, the couple purchased a vacant lot next to the recently purchased building with the plan of developing a new 7,500-square-foot warehouse.

“Then that building came up for sale, and we decided that it would be easier to buy it then to build a building,” says Joe Brielmann. “We're growing, and we need more space. That brings us up to almost 23,000 square feet.”



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