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BUYER: Sarasota County Public Hospital District, Sarasota
SELLER: Joseph Costello Properties LLC
PROPERTY: 5540 Bee Ridge Road, Sarasota (units A1-A6, B, C1, D1-D6, D9-D11, D13 and D14, E1-E3 and F1-F4, Centergate Office Park)
PRICE: $3.2 million
PREVIOUS PRICE: $5.8 million, June 2006
LAW FIRM ON DEED: Williams Parker Harrison Dietz & Getzen, Sarasota
PLANS, DESCRIPTION: The Sarasota County Public Hospital District purchased condominium units covering a total 31,786 square feet in a professional office building for $3.2 million.
The price equated to $101 per square foot.
The building occupies a 3.4-acre site half a mile west of Interstate 75.
Sarasota Memorial Health Care System plans to renovate the building to serve as an urgent-care center. The new owner has budgeted the renovation, improvements and equipment for the urgent-care center at $2.25 million.
Sarasota Memorial plans to construct the new Bee Ridge facility and a second facility in Venice by this summer, which will bring the health care group's total number of urgent-care clinics up to five.
The clinics provide non-emergency, but near immediate health care services, such as treatment for ear infections, sprains, lacerations or minor burns. One major advantage urgent-care centers offer health care customers is lower costs, which tend to be 25% less than an emergency room visit.
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