- June 27, 2014
BUYER: BDB Southeast Plaza LLC, Atlanta
SELLER: Kimco Development of McIntosh Sarasota Inc.
PROPERTY: 4354 Bee Ridge Road, Sarasota
PRICE: $14.3 million
PREVIOUS PRICE: $6.4 million, August 1989
BDB Capital, an Atlanta real estate acquisition firm, purchased the 129,700-square-foot Southeast Plaza for $14.3 million.
The price equated to $111 per square foot. That figure is less than the two-year average price per square foot for retail space ($129) in the Tampa Bay area, according to the CoStar Group.
Anchor tenants include Aaron's, Pet Supermarket and Winn-Dixie. The retail center also houses Burger King, Amscot, Dino's Pizza, First Choice Haircutters, Peach's restaurant and Southeast Laundry, among others. The site also features 570 parking spaces.
The property's various buildings were constructed in 1965, 1978, 1979, 1981 and 2001.
The seller, Kimco Realty Corp., has owned the center since 1989.
BDB Capital had not responded to a request for comment prior to deadline.