Sarasota Starbucks property sells to investors

By Louis Llovio
| 12:40 p.m. June 10, 2025
| 2 Free Articles Remaining!

The property leased by Starbucks at 5901 Fruitville Road was bought by investors.

Manatee-Sarasota

A Sarasota property with a Starbucks on it has sold.

The property is on 5901 Fruitville Road and was bought as a 1031 Exchange for $2.19 million by a group of three investors.

The seller is Sarasota-based Furman Inc., which paid $500,000 for the property in 1999.

According to an offering memorandum from Woodstone Associates, which represented both parties, the property is 1.04 acres, and the 3,118-square-foot Starbucks has nine years remaining on its lease.

The corporate backed lease has 10% rent escalations every 5 years and six 5-year renewal options.

Doug Sullivan brokered the deal for Woodstone, the Sarasota business brokerage and commercial real estate firm.

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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.