Loading
BUYER: BCT Enterprises Inc., Sarasota
SELLER: 1905 72nd LLC
PROPERTY: 1901, 1903, 1905 and 1906 72nd Drive E., Sarasota
PRICE: $1.25 million
PREVIOUS PRICE: $1.44 million and $456,000, June 2007
LAW FIRM ON DEED: Vogler Ashton PLLC, Bradenton
PLANS, DESCRIPTION:
The Boyle family, owners of U.S. Tent Rental Inc., purchased a 20,858-square-foot warehouse/distribution building and 1.68 acres of vacant industrial land in Centre Park Industrial Park for $1.25 million.
The price equated to $60 per square foot of the building.
The building is currently leased to two companies, one of which has already vacated the space. The second tenant, QCMS Inc. (Quality Contract Manufacturing Service), is expected to continue to lease the space for the near future. The Boyle family plans to lease the remainder of the building to U.S. Tent to allow it to expand.
The tent-, event-, party-rental and wedding supplies company currently occupies a 20,000-square-foot building at 2006 72nd Drive E. and two condominium units, housing 4,000 square feet of total space, behind the building. The new building will likely take the place of the condominium units, which the Boyles are considering renting.
“We bought [the condo units] for the same reason we bought this building, but we filled them up pretty quick,” says CEO Brian Boyle. “We need storage space for our equipment. We plan to start moving over there next week.”
The transaction was a short sale approved by Cadence Bank, which also mortgaged the property to the Boyle family for $1 million.
Carl Wise of Preferred Commercial Inc. handled the transaction.
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.
