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BUYER: Ivy Business Center LLC (principal: Steve Anderson), Sarasota
SELLER: The Bank of Commerce
PROPERTY: 2060 Harvard St., 2025 and 2042 Princeton St. and 2045 Cornell St., Sarasota
PRICE: $1.3 million
PREVIOUS PRICE: $98,500, February 1984 and $240,000, August 1984
LAW FIRM ON DEED: Andrew Rosin Esq., Sarasota
PLANS, DESCRIPTION: Sarasota entrepreneur Steve Anderson purchased a five-building industrial park for $1.3 million.
The price equated to $21 per square foot.
The collection of buildings, 61,000 square feet, was 65% occupied at the time of the sale.
Anderson, president of Sarasota-based general contractor Anderson & Ellis Inc., plans to lease the center as an investment. He already owns and operates Sarasota Business Park.
“I find there's still decent demand for small individual rental units,” he says. “I've managed, owned and developed these type of properties before and demand for these properties is starting to pick up. Recessions tend to spur the growth of small businesses.”
A reasonable price and conventional bank financing also aided the purchase, Anderson says. The seller, The Bank of Commerce, provided a $910,000 mortgage on the property.
Nick DeVito II and Bob Granicz with Ian Black Real Estate handled the transaction.
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