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End of year brought a slew of commercial real estate deals

As the clock ticked down to 2023, commercial real estate firms across the Gulf Coast announced transactions.

  • By Louis Llovio
  • | 1:52 p.m. January 2, 2023
  • | 2 Free Articles Remaining!
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  • Commercial Real Estate
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Some of the commercial real estate deals across the region over the holidays range from land deals to office deals. The deals include the following: 

Naples/Fort Myers

Done deals: LSI Cos. announced a handful of deals to end the year. Among them were a 4.79-acre residential property sold to Lennar Homes for $700,000. The property is at 12211 Blasingim Rd. near the Six Mile Cypress Slough Preserve and Daniels Parkway in Fort Myers. The firm also helped broker a $1.05 million deal for a 2.4-acre commercial property at 13500 Riverside Center Ct. in Fort Myers.  The property was bought by Bayside Pet Resort.

Health care buy: An LLC with ties to Solaris Healthcare has bought a two-property portfolio in Naples. The properties, at 1004 and 1016 Collier Center Way, sold for $7.5 million according to Premier Commercial in Bonita Springs. The buyer was Triple C Partners, an LLC whose address matches Solaris’ in the state’s Division of Corporations database. The seller was Klingler properties. Bonita Springs-based Solaris operates 17 assisted living and skilled nursing facilities in Florida. It also has an administrative office in Orlando.

Tampa/St. Petersburg

Hidden River: A nearly 60,000-square-foot office building in Tampa was sold to an Orlando real estate investment firm. The sale price was not disclosed and but the deed shows $65,800 in doc stamps, which means it sold for $9.4 million. The 59,530-square-foot one-story office building at 8600 Hidden River Pkwy. is located in the Hidden River Corporate Park. CBRE, which represented Virginia Beach, Va. seller Continental Capital Partners, says it was fully leased at the time of the sale to a mix of private and public sector tenants.

Spec space: Universal Background Screening has leased 13,362 square feet in a new spec office building in Pasco County. The company will move its office and about 100 employees from its current location in New Port Richey in the 2nd quarter of the year. The three-story, 60,000-square-foot office building, 54 Crossing, is set to open in April. The remaining space is available for lease and there are plans for a second building on the site. It won’t break ground, though, until the first one is fully leased.

Volusia industrial: Tampa real estate developer Onicx Group bought a 40-acre piece of property in Volusia County for $3.8 million. The firm, which partnered with Aries Capital out of Chicago, plans to build a 240,000-square-foot industrial park on the site in Deland, a small town between Orlando and Daytona. In July, the pair paid $4.15 million for another Volusia property where it plans to build a 1 million-square-foot office park on. The park will be aimed at the space vehicle launch industry.

Coffee time: A 2,500-square-foot standalone Starbucks has sold for $3.844 million. The 1.02-acre property, on Gandy Boulevard east of the Westshore Marina District, was bought by an unnamed South Florida private investor as part of a 1031 exchange. It was a cash deal says SRS Real Estate Partners whose net lease group represented the seller. The property had been the site of a Twistee Treat ice cream shop for years, but it was recently developed as a Starbucks with a drive thru. The company has signed a 10-year lease.


Industrial times 5: An 11-acre industrial portfolio in Sarasota has sold for $17.5 million. According to the SVN Commercial Advisory Group, which represented the seller, the portfolio was made up of five properties on Industrial Boulevard — 2210, 2230, 2363, 2383 and 2387. The total square footage for the buildings was 171,549 square feet. With 48,800 square feet of vacant land, the amount of space jumps to 220,000 square feet.

Five Points: WMG Development has bought a 12-story office tower and parking garage on the Five Points roundabout in Sarasota. The company paid $24 million, According to property records, the building was owned by an LLC with an address matching Zenith Insurance Co. The Winter Garden developer says in a statement that Zenith will stay as it “works to design and plan the best mix of uses to take this historic project into the future.” While details are not available, a spokeswoman says WMG has a working vision to make the best possible use of this building.



Louis Llovio

Louis Llovio is the deputy managing editor at the Business Observer. Before going to work at the Observer, the longtime business writer worked at the Richmond Times-Dispatch, Maryland Daily Record and for the Baltimore Sun Media Group. He lives in Tampa.

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