Local investment company buys surgery center building

BUYER: Plantation Grove Ltd. (principal: Neil Malamud), Sarasota

SELLER: Jaco-Sarasota LLC

PROPERTY: 1427 S. Tamiami Trail, Sarasota

PRICE: $3.75 million

PREVIOUS PRICE: $2.49 million, June 2001

LAW FIRM ON DEED: Levin Law LC, Sarasota

PLANS, DESCRIPTION: A company led by Sarasota developer and investor Neil Malamud purchased a 13,685-square-foot medical office and retail building on U.S. 41 for $3.75 million. The price equated to $274 per square foot.

The building, which once featured Blockbuster Video, now houses Verizon Wireless, Manatee Sarasota Eye Clinic, Surgery Center of Sarasota and the Advanced Laser & Skincare Center. It was 100% occupied at the time of the sale.

Ian Black, Steve Horn and Debbie Anglin of Ian Black Real Estate handled the transaction. Black attributed the sale to the strong credit-worthy tenants and its prime location across from Sarasota Memorial Hospital.

Malamud's Plantation Grove Ltd. mortgaged the property to Northern Trust for $1.5 million.