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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.
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