BUYER: Tidewell Hospice Inc. (officers: Thomas Stuhley, Gerard Radford, Michael Uselton and Thomas Combs), Sarasota
SELLER: Rodney Dessberg
PROPERTY: 3550 S. Tamiami Trail, Sarasota
PRICE: $3.5 million
PREVIOUS PRICE: $1.58 million, May 2002
LAW FIRM ON DEED: Najmy Thompson PL, Bradenton
Tidewell Hospice Inc. purchased the 17,580-square-foot Tamiami Plaza building for $3.5 million.
The price equated to $199 per square foot. That figure is higher than the two-year average price per square foot for office space ($118) in the Tampa Bay area, according to the CoStar Group.
Located at the northwest corner of Jasmine Drive and U.S. 41, the three-story building most recently housed Fidelity Investments. Beneficial Communities LLC and Retina Care Consultants, PA are currently the building's sole tenants.
Tidewell Hospice plans to relocate its administrative offices to the 6,200-square-foot first floor of the building from a leased 8,000-square-foot location at 5955 Rand Blvd., Sarasota.
“This is a more centralized area to where most of our patients live,” says Gerry Radford, Tidewell's president and CEO. “This is also about owning versus renting. The idea is that this will save us money over time.”
The nonprofit hospice plans to renovate the building. Along with making cosmetic improvements and adding new signage and offices, Tidewell plans to create a large meeting room capable of hosting much of its about 65-member staff.
The Hospice is scheduled to move to the new facility around November.