Loading
BUYER: Cornelius Family LLC, Sarasota
SELLER: Villa De Santa Monika LLC
PROPERTY: 1503 Fourth St., Sarasota
PRICE: $675,000
PREVIOUS PRICE: $300,000, December 2002
LAW FIRM ON DEED: J. Kevin Drake PA, Sarasota
PLANS, DESCRIPTION: The Cornelius family of Sarasota and Michigan purchased the 1,590-square-foot Station 400 restaurant building north of downtown Sarasota for $675,000. The price equated to $425 per square foot.
Allen Conrad with Re/Max Alliance Group represented the buyer and Brad Lindberg with the Sperry Van Ness Commercial Advisory Group's Sarasota office represented the seller.
The Rosemary District restaurant building is a reassembled 1850s-era railroad depot. The existing Station 400 restaurant ownership will lease back the building.
The family, led by former auto executive Bill Cornelius, already owns the 17,734-square-foot building across an alley from Station 400 at 1525 Fourth St. After acquiring the larger building in July, the Cornelius family and partners created the restaurant and brewery Darwin's on 4th in the vacant space that formerly housed the Mad Crow Brewery and Grill. The building already also housed a wine storage business, and a second restaurant is being considered. “It made sense for my guy to lock up his parking,” Conrad says. “Eric, who runs Station 400 is going to stay there and continue to operate it. They are open for breakfast and lunch, which allows the restaurants to use it for valet parking at night.”
Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.
