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BUYER: Exxxtreme LLC (principal: Mike Tisdale), Sarasota
SELLER: BHER Family Limited Partnership
PROPERTY: 1523 Edgar Place, Sarasota
PRICE: $1.28 million
PREVIOUS PRICE: $1.12 million, April 1997
LAW FIRM ON DEED: Shumaker Loop & Kendrick LLP, Sarasota
PLANS, DESCRIPTION:
A company led by Mike Tisdale, owner of Aluminum Specialties Wholesale Inc. and Unique Technologies, purchased a 38,220-square-foot distribution warehouse in Eastern Industrial Park for $1.28 million.
The price equated to $33 per square foot. That figure is lower than the two-year average price per square foot for industrial space ($46) in the Tampa Bay area, according to the CoStar Group.
The building features a loading dock, fire-sprinkler system, 2,700 square feet of office space, a conference room, restrooms and a break room. It currently serves as the home of fertilizer company Florikan, which plans to relocate to a larger building outside of Sarasota County. The buyer plans to consolidate the two aluminum-related businesses in the building in about a year.
“I grew up in that area,” Tisdale says. “It's very close to my home. This is larger than our two [existing] buildings. We've been shopping for a permanent home to put everybody under one roof for a while now.”
Tisdale says both of the companies are performing really well and that the consolidation made sense. Combined, the companies employee about 25 people. He expects to upgrade and update the office space.
Jon Kleiber, Terry Eastman and William Rex of Coldwell Banker Commercial NRT handled the transaction.
“A building with that much storage close to the interstate is hard to find,” Kleiber says. “It features high ceilings and a fenced storage yard.”
The purchase entity, Exxxtreme LLC, mortgaged the property to Synovus Bank for $1.09 million.
Unique Technologies manufacturers aluminum doors and Aluminum Specialties Wholesale Inc. distributes pool and patio products.
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