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BUYER: Ocean Blvd LLC (managing member: Christopher Brown), Osprey
SELLER: Joseph Golomb
PROPERTY: 205 and 215 Canal Road and 311 Calle Menorca, Sarasota
PRICE: $1.9 million
SELLER: Whiting Property LLC
PROPERTY: 205 Canal Road, Sarasota
PRICE: $897,000
LAW FIRM ON DEED: Berlin Patten PLLC, Sarasota
PLANS, DESCRIPTION: Sarasota businessman and real estate investor Chris Brown and business partner Mike Granthon purchased several Siesta Key Village buildings including the Siesta Market for a combined $2.8 million.
The price equated to $235 per square foot. That figure is higher than the two-year average price per square foot for retail space ($138) in the Tampa Bay area, according to the CoStar Group.
The Siesta Key property covers a total eight buildings with 11,879 square feet, according to the Sarasota County Property Appraiser's office. The property also holds Meaney's Mini Donuts, The Sea Shanty and Siesta Key Hardware.
“It's rare for an acre of land to be available in the Village,” Brown told the Sarasota Observer.
Further, he said he had no big initial plans for the market property. He wants to preserve the area, and saw a need for the current services offered there. Brown and Granthon do plan to update and improve the property as a whole. They plan to make sure the buildings are up to code and see if there is an opportunity to increase parking.
“We're not developers — we don't need any more condos,” Brown said. “We want to clean it up and be proud of the facilities.”
With the market center acquisition, Brown and his partner own almost all the properties located at the intersection of Ocean Boulevard, Canal Road and Avenida Messina. This includes Blu Que Island Grill, The Cottage on the Key, Hub Baja Grill, The Beach Club on Siesta Key and the businesses in the market center complex.
— additional reporting by Jessica Salmond, correspondent
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