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BUYER: Adams North Port Land Holdings LLC, Punta Gorda
SELLER: Matthew and Diana Uebelacker
PROPERTY: 2209 and 2227 Murphy Court, North Port
PRICE: $1.92 million
PREVIOUS PRICE: $530,000, August 2001 and $310,000, August 1999
LAW FIRM ON DEED: Farr Farr Emerich Hackett & Carr PA, Punta Gorda
PLANS, DESCRIPTION: The Adams Group, formerly Adams Brothers Cabinetry Inc., purchased the 5.9-acre Busy Bee Cabinets property for $1.92 million.
The price equated to $40 per square foot.
The two parcels feature three buildings with 48,230 square feet of manufacturing, office or warehouse space, with 2.5 acres of vacant land.
The Adams Group relocated to the majority of the three North Port buildings from a leased 21,000-square-foot building in Punta Gorda. The company will lease out half of one of the former Busy Bee buildings.
“We didn't want to move to Sarasota County, but we needed more space, and unfortunately for Charlotte County, there aren't a lot of big buildings down there,” says Ethan Adams, CEO of the Adams Group. “This really positions us for growth in the future if the market comes back even a little bit.”
The firm plans to wait a year before it renovates the office space in the buildings.
The purchase entity Adams North Port Land Holdings LLC assumed $1.19-million worth of mortgage debt from Charlotte State Bank.
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