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BUYER: Venice Lincoln Mercury Inc. (principals: J.E., Joyce, Eddye and Jeffery Howard), Sarasota
SELLER: 1099 LC
PROPERTY: 750 and 800 S. U.S. 41 Bypass and 350 and 540 Seaboard Ave., Venice
PRICE: $6.5 million
PREVIOUS PRICE: $4.1 million and $1.4 million, December 1999 and $925,000 and $470,000, May 2005
LAW FIRM ON DEED: Killgore Pearlman, Orlando
PLANS, DESCRIPTION: Venice Lincoln Mercury purchased the Venice Dodge Nissan property on U.S. 41 Bypass and two buildings on Seaboard Avenue for $6.5 million.
Buchanan Automotive Group was the seller for all four of the properties. U.S. Rep. Vern Buchanan, R-Longboat Key, founded the company.
The U.S. 41 Bypass property includes a 19,536-square-foot light-industrial warehouse building, a 21,786-square-foot vehicle showroom and a 17,210-square-foot service garage. The Seaboard Avenue property includes an 8,880-square-foot light-industrial warehouse building used by John's Furniture and a 2,160-square-foot retail building.
Venice Lincoln Mercury officials couldn't be reached for comment.
Venice Lincoln Mercury mortgaged the property to SunTrust Bank for $5.76 million.
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