BUYER: 7330 S. Tamiami Trail Inc. (principals: Barry and Leslye Seidel), Sarasota
SELLER: MRTH Inc.
PROPERTY: 7668 S. Tamiami Trail, Sarasota
PREVIOUS PRICE: $1.75 million, January 2000
LAW FIRM ON DEED: Williams Parker Harrison Dietz & Getzen, Sarasota
PLANS, DESCRIPTION: Sarasota Realtor Barry Seidel and his wife, Leslye, purchased the 13,250-square-foot retail strip center on U.S. 41 for $770,000.
The price equated to $58 per square foot.
The building is mostly vacant; its single tenant is Poochie's Pampered Pups dog daycare.
Seidel plans to relocate his real estate brokerage American Property Group of Sarasota Inc. into the center from a smaller space at 7330 S. Tamiami Trail, Sarasota.
“We needed bigger offices; both of my boys are with me now,” Seidel says. “Plus it's a good investment and a good time to buy. I think the bottom [of the real estate market] is here, and if you don't buy now you'll miss the boat.”
Seidel says he's still deciding between taking 2,000 and 4,000 square feet. The new owners also plan to remodel the exterior of the building. The purchase was done as a short sale.