BUYER: Mullet's Aluminum Products Inc. (principals: Freeman, Sandra, Travis and Tiler Mullet, Jay Coblentz, Lenette Shaw and Stasha Jackson), Sarasota
SELLER: Pro-Build Real Estate Holdings LLC
PROPERTY: 6345 and 6340 McIntosh Road, Sarasota
PRICE: $3.5 million
PREVIOUS PRICE: $4.9 million, February 2008
LAW FIRM ON DEED: Dykema Gossett PLLC, Chicago
Mullet's Aluminum Products Inc. purchased the 97,040-square-foot Pro-Build door-and-truss plant for $3.5 million.
The price equated to $36 per square foot. That figure is less than the two-year average price per square foot for industrial space ($104) in the Tampa Bay area, according to the CoStar Group.
Located at the corner of Clark and McIntosh roads, the 9.31-acre parcel features five buildings with retail showroom, office and warehouse space. The property also includes room for outdoor storage.
After 34 years of operating from the 1-acre site at 905 Ponder Ave., Sarasota, Mullet's Aluminum Products is moving to the larger McIntosh Road facility. Mullet's Aluminum Products currently operates from two 16,000-square-foot buildings and uses additional offsite storage.
Nate Yoder, marketing director for the aluminum-product manufacturer, says the move came down to the growth of the company.
“It became evident that we needed a larger facility,” he says. “We were spread out in multiple locations, and this facility will allow us room for future expansion on the site. We plan to fill up that building.
This is just a classic American success story. ”
The firm is scheduled to relocate over the weekend of June 28 and 29 and reopen at the new location June 30.
The company has 161 full-time employees but plans to add another 40 to 50 over the next two years. It has applied with the Economic Development Corp. of Sarasota County for incentives to match the additional jobs created.
Mullet's Aluminum Products mortgaged the property to JPMorgan Chase Bank NA for $3.08 million.