BUYER: Gulf Coast Auto Brokers Inc. (president: Samer Khader), Sarasota
SELLER: STB Holdings Inc.
PROPERTY: 4343 and 4347 Clark Road, Sarasota
PRICE: $1.04 million
PREVIOUS PRICE: $564,000, May 1999 and $350,000, April 1999
LAW FIRM ON DEED: Lutz Bobo Telfair Eastman Gabel & Lee, Sarasota
Gulf Coast Auto Brokers Inc. purchased two industrial buildings on Clark Road for $1.04 million.
The price equated to $281 per square foot. That figure is higher than the two-year average price per square foot for retail space ($138) and industrial space ($104) in the Tampa Bay area, according to the CoStar Group.
The property features a 3,000-square-foot building and an adjacent 2,701-square-foot building. The larger building was constructed in 1972 and the smaller one was built in 1966.
The pre-owned high-end automobile dealership has leased space in the buildings for more than a decade.
“We just felt it was the right time [to buy],” says Samer Khader, president and owner of Gulf Coast Auto Brokers. “This was just about securing our place there for the long haul. We love the location.
Eventually over the next two to three months we are going to go through and remodel it, just to fix it up a bit.”
Gulf Coast Auto Brokers mortgaged the property to the seller, STB Holdings Inc., for $706,052.72.