BUYER: SLS Holdings II LLC (principals: Lita Sciturro-Smith and Sam and Steven Sciturro), Sarasota
SELLER: Allris Properties LLC
PROPERTY: 8320, 8348, 8344, 8342, 8338, 8334, 8332, 8330, 8328, 8326, 8324 and 8322 N. U.S. 301, Ellenton
PRICE: $2.85 million
PREVIOUS PRICE: $620,000, December 2004
TITLE FIRM ON DEED:: Fidelity National Title Insurance Co., Seminole
PLANS, DESCRIPTION: Real estate investor Sam Sciturro and his children, Steven Sciturro and Lita Sciturro-Smith, purchased the 18,896-square-foot Allris Plaza for $2.85 million.
The price equated to $151 per square foot.
The two-year-old center is 92% occupied. Its current tenants include Sparkle Brite Pool Store, Anytime Fitness, Leslie Wells Realty, Parsons Medical Center, Ferraro Italian Grille, Triple 7 and the Rustic Rose. The Sciturros plan to lease the remaining 1,657-square-foot vacant store at $23 a square foot.
“We have been looking for a relatively new retail plaza for quite awhile,” says Lita Sciturro-Smith. “We felt the growth potential in Ellenton is pretty good. Ellenton also hasn't been hit as hard by the economy.”
The Sciturro family owns industrial properties in the Ashton-McIntosh area of Sarasota. The family also owns other property in Michigan.
Damien Lanclos and Larry Richards of Sperry Van Ness Blackpoint Realty represented the seller and Charles Palmeri of Re/Max Alliance Group represented the buyers.