Bonita Springs firm buys Venice building

BUYER: S&R Properties of Florida LLC (principals: Dan Roosa and Gary Spiert), Bonita Springs

SELLER: Stearns Bank

PROPERTY: 1882 S. Tamiami Trail, Venice

PRICE: $375,000

PREVIOUS PRICE: $420,000, April 2003

TITLE FIRM ON DEED: Signet Title & Escrow LLC, Naples

PLANS, DESCRIPTION: Bonita Springs-based Water Connection Inc. purchased a 4,400-square-foot retail building for $375,000.

The price equated to $85 per square foot.

Water Connection is the authorized Kinetico dealer for a region that spreads from Manatee to Collier counties. The company operates as Kinetico Water Systems of Southwest Florida.

The Venice building will replace Water Connection's leased office at 2307 Tamiami Trail N., Nokomis, which is seven miles away. The building is 30% larger than the old location, says Dan Roosa, one of the two co-owners.

Water Connection plans to renovate the building and open by late December with a bigger showroom.

Phillip DeFreest of Homes & Dreams Realty Inc. represented the seller and Brian Seidel of American Property Group of Sarasota represented the buyer.

The purchase entity S&R Properties mortgaged the property to Fifth Third Bank for $195,000.