Intercoastal Medical Group opening new Ranch office

BUYER: Rangeland MOB LLC (principal: Dr. John Steele), Sarasota
SELLER: Lakewood Ranch Commerce Park LLC
PROPERTY: northeast corner of Rangeland Parkway and Lakewood Ranch Boulevard, Bradenton
PRICE: $1.85 million
LAW FIRM ON DEED: Schroeder-Manatee Ranch Inc.

PLANS, DESCRIPTION: A company led by family practitioner Dr. John Steel of Intercoastal Medical Group, purchased 2.9 acres north of State Road 70 in Lakewood Ranch for $1.85 million.

The price equated to $631,399 per acre. That figure is lower than the two-year average price per acre for office space ($1.18 million) in the Tampa Bay area, according to the CoStar Group.