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Attorney-led holding company buys Pines Industrial Park building


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  • | 9:59 a.m. October 24, 2014
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  • Manatee-Sarasota
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BUYER: The Parking Co. (officers: David and Carol Bone), Sarasota
SELLER: Slam Dunk Properties LLC
PROPERTY: 1899, 1901 and 1903 60th Place E., Bradenton
PRICE: $982,000
PREVIOUS PRICE: $954,195, February 2004
LAW FIRM ON DEED: Norton Hammersley Lopez & Skokos PA, Sarasota

PLANS, DESCRIPTION:
A company controlled by Sarasota attorney David Bone and his wife, Carol, purchased a 24,750-square-foot warehouse for $982,000.

The price equated to $40 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.

Built in 2004, the warehouse features 18-foot ceiling heights, 5,000 square feet of office space with a conference room, 12 loading doors, a truck well and security system.

The property in Pines Industrial Park was purchased for an undisclosed client as part of 1031 tax-deferred exchange, according to David Bone. He declined to name the client or offer additional details.

The purchase entity, The Parking Co., mortgaged the property to Insignia Bank for $883,800.

 

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