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The Stadium Gallery buys St. Armands building

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  • | 6:04 p.m. January 21, 2011
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  • Commercial Real Estate
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BUYER: Fillmore Management I LLC (1/2% interest) and Fillmore Management II LLC (principals: Robert Arra and Loring Weatherholtz), York, Maine

SELLER: William Carman II and Judith and Janna Carman

PROPERTY: 436 St. Armands Circle, Sarasota

PRICE: $1.5 million

PREVIOUS PRICE: $103,000, April 1974

LAW FIRM ON DEED: J. Kevin Drake PA, Sarasota

PLANS, DESCRIPTION: The owners of The Stadium Gallery purchased the 1,775-square-foot Carman's Shoes building for $1.5 million. The price equated to $845 per square foot.

Sports photographers, storeowners and The Rob Arra Collections founders, Robert Arra and Loring Weatherholtz, headed up the two limited liability companies that acquired the building. Arra and his companies specialize in panoramic sports event photographs.

The Stadium Gallery currently operates from a leased store at 372 St. Armands Circle, Sarasota.

Arra declined to comment on his plans for the building.

The historic, three-story building, was originally built for the Old Colony Restaurant in 1949. According to former owner William Carman, the St. Armands building was the first commercial condominium on the West Coast of Florida.

The purchase entities Fillmore Management I LLC and Fillmore Management II LLC mortgaged the building to the former owners William Carman II and Judith and Janna Carman for $952,775.90.

Lee DeLieto Jr. of Michael Saunders & Co. handled the transaction.


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