BUYER: Big T Properties LLC (principals: Shawn Sims and Matthew Snyder), Nokomis
SELLER: Bher Family Limited Partnership
PROPERTY: 1579 Barber Road, Sarasota
PRICE: $1.85 million
PREVIOUS PRICE: $1.7 million, June 2002
LAW FIRM ON DEED: Caswell Legal, Sarasota
Venice-based New Tech Construction purchased a 33,827-square-foot manufacturing warehouse for $1.85 million.
The price equated to $55 per square foot. That figure is lower than the two-year average price per square foot for industrial space ($104) in the Tampa Bay area, according to the CoStar Group.
The 24-year-old building previously housed fertilizer company Florikan. It occupies a 3.33-acre site.
Jon Kleiber and Terry Eastman of Coldwell Banker Commercial NRT handled the transaction.
“They were attracted by the configuration of the building with the land,” says Kleiber. “There's ample yard space for vehicles and equipment. They just plan to use it for themselves and will be doing a slight remodel. There are very few 20,000- to 30,000-square-foot buildings in Sarasota County, especially this close to I-75.”
New Tech Construction provides wireless communications system-related construction and repair services.
The purchase entity, Big T Properties LLC, mortgaged the property to Wells Fargo Bank NA for $1 million.