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Sarasota restaurant space on the market for $2.2 million

In the week's top commercial real estate news, a Chilean manufacturer buys land to build a $25 million plant, a bank branch sells in Tampa, and a major industrial project gets a broker.


  • By Louis Llovio
  • | 5:00 a.m. July 7, 2024
  • | 2 Free Articles Remaining!
A two-story restaurant building in Osprey has been put up for sale.
A two-story restaurant building in Osprey has been put up for sale.
Courtesy image
  • Florida
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Naples/Fort Myers/Charlotte 

Heart of glass: A Chilean glass processing company has bought land in Collier County and plans to build a $25 million, 100,000-square-foot processing plant. Dialum Glass brought the property just east of Arthrex Manufacturing in the Ave Maria planned community for $2.5 million, according to county records. This will be Dialum’s first U.S. finishing factory. According to developer Barron Collier Co., site preparation on the 10 acres has already begun, with a groundbreaking expected early next year. Dialum is expected to expand the facility by up to 80,000 square feet at a future date, says Barron Collier. In addition to manufacturing, the factory will also serve as a showroom for homeowners and window contractors to see the applications and make custom orders. Family-run Dialum was founded in 1987. According to the statement, it buys ready-made sheets of glass with different features from global suppliers and applies laminates and treatments. Its products include impact glass; fireproof and bulletproof glass; anti-slip and shower glass; lacquered glass; and privacy glass.

A taste of Miami: A 1.26-acre property in Cape Coral has sold and when built out will house a Vicky Bakery and other retail tenants. Lee County property records show the property at 602 Del Prado N. sold for $762,500. Mike Rivera, of Estero-based Saggio Realty and who represented the bakery, says the new construction will include a 3,000-square-foot space for Vicky’s and 3,600 square feet of inline retail space. The family-owned Vicky Bakery was founded in 1972 by Cuban refugees Antonio and Gelasia Cao in the Miami suburb of Hialeah. It is still family owned and, along with franchisees, operates 23 locations mostly in and around Miami and Fort Lauderdale. The Cape Coral location will be the company’s third in Southwest Florida. The other two are in Ave Maria and Fort Myers.


Tampa/St. Petersburg/Pasco/Polk

USF Federal Credit Union has bought a bank branch formerly occupied by Truist near Citrus Park Town Center in Tampa.
Courtesy image

Buying on credit: A former Truist bank branch in Tampa has sold and will be replaced by a local credit union office. Elliott Ross, president of The Ross Realty Group in Tampa, says the freestanding building at 7919 Gunn Highway near Citrus Mall Town Center was sold for $2 million. The buyer was USF Federal Credit Union. According to a LoopNet profile, the building is 3,877 square feet and has two drive thru lanes and a dedicated ATM lane. When the new Gunn Highway branch will open was not immediately known. USF Federal Credit Union, according to its website, currently has eight locations. These are mostly around Tampa, though there is one branch in each Sarasota and Orlando. Ross and Chris Shryock represented the seller, an LLC with a Missouri address matching CRA Investments. It paid $1.72 million for the property in 2022, property records show. Bryan Jerome, president and broker of the Clearwater firm Cornerstone Commercial Realty, represented the credit union.

The room where it happens: The developer of a 318,000-square-foot industrial center under construction in Polk County has hired a broker to lease the space. Summit Real Estate Group announced last week it has picked JLL to handle the leasing of its Hamilton Logistics Center in Lakeland. The firm’s executive managing director John Dunphy and associate Olivia Brock are leading the leasing effort. They are based in Tampa. The industrial park is being built at 4141 Hamilton Road, about three miles east of Lakeland Linder International Airport and about four miles south of Interstate 4. The industrial park will be made up of two buildings. Building 100 will be 134,970 square feet and have 36 dock high doors and 124 parking spaces. Building 200 will have 42 dock high doors and 148 parking spaces. Each will have a clear height of 32 feet and two drive in ramps. JLL says construction is scheduled to be completed later this year. 


Sarasota/Manatee

Fine dining: The home of the Bella Vino & Cocina in Sarasota is for sale but the restaurant, for now, is not going anywhere. According to a listing by the commercial real estate firm Michael Saunders & Co. the restaurant is at 3983 Destination Dr. in Osprey, just off South Tamiami Trail, and the asking price is $.2.2 million. It’s listed as 150-seat turnkey restaurant with “indoor/outdoor seating, phenomenal kitchen and a great buildout, perfect for an ambitious restaurateur.” The listing also is clear that the business is not included in the deal. And that’s because Bella Vino has a little more than two years left on its current lease, says Eric Massey, a senior commercial advisor at the firm. As for the real estate, the two-story building is 3,863 square feet. The ground floor includes a large bar within the seating area and the second floor can be used for banquet events, private parties or overflow seating. 

WMG Development opened The Shoppes at Palmer Ranch last year and is now selling the Sarasota shopping center.
Image via WMGDevelopment.com

Market day: A year after it opened, a Publix-anchored shopping center is on the market. The property is The Shoppes at Palmer Ranch at 8405 Honore Ave. in Sarasota. The sale price does not appear on the listing from the broker, Colliers, but according to Sarasota County property records the owner, WMG Development, paid $4.4 million for the site in 2021 before building the center. Located off Honore Avenue at Central Sarasota Parkway, the 65,417-square-foot shopping center is fully leased with a tenant roster that includes Publix Liquors, Dental Care at Palmer Ranch, Sherwin-Williams, Wellness Animal Hospital, Ann Volcano Nail Lounge and Fuji Sushi Steakhouse. There are two freestanding ground-leased parcels with long-term leases — Circle K and Fifth Third Bank — that are being sold individually or separate from the shopping center.


If you have news, notes or tips you want to pass along, contact [email protected]. Or you can text or call 727-371-6944.

 

author

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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