Harun buys former bank building

Harun buys former bank building

BUYER: Harun LLC (principals: Arun and Harpret Khazanchi and Harvey and Janet Mishner), Sarasota

SELLER: Wachovia Bank NA

PROPERTY: 11505 Palmbrush Trail, units 100, 101, 200, 201 and 202, Bradenton

PRICE: $1.4 million

PREVIOUS PRICE: $625,000, September 2000

LAW FIRM ON DEED: Rogers Towers PA, Jacksonville

PLANS, DESCRIPTION: The limited liability company Harun LLC purchased a 12,340-square-foot former Wachovia Bank branch just south of State Road 70 on Lakewood Ranch Boulevard for $1.4 million. The purchase price equated to $113 per square foot. Built in 2001, the bank building occupies a 1.4-acre site.

The purchase entity Harun LLC mortgaged the property to SunTrust Bank for two mortgages totaling $1.6 million.

Richard Kingan, of Kingan Commercial Real Estate, handled the transaction for Wachovia.<