Plumbing owner buys Sawyer Road building

Plumbing owner buys Sawyer Road building

BUYER: Joybill 5600 LLC (principal: Joyce Milligan), Sarasota

SELLER: Verizon Florida formerly known as GTE Florida Inc.

PROPERTY: 5600 Pinkney Ave., Sarasota

PRICE: $900,000

PREVIOUS PRICE: $126,000, June 1974

LAW FIRM ON DEED: Holland & Knight LLP

PLANS, DESCRIPTION: Joybill 5600 LLC, a limited liability headed by Joyce Milligan, purchased a 10,000-square-foot warehouse on five acres just off Sawyer Road north of Clark Road for $900,000.

The purchase price equated to $90 per square foot of building space. The property was purchased to house La Gasse Plumbing Inc., a company owned by Bill and Joyce Milligan. Verizon previously used the building as a service center office.

Jon Kleiber of Kleiber DeVito Real Estate Group handled the transaction.

“The land area was a big bonus for the service business,” Kleiber says. “There was an abundance of asphalt parking, which was also a selling point for the property. It was a real opportunity to acquire the property at that price...It was in good condition. The new owners will only have to do minimum renovations to fit it to their needs.”

Joybill 5600 LLC mortgaged the property to SunTrust Bank for two loans totaling $810,000.