Monthly Archives: October 2013

Another office building in downtown Sarasota is sold!

Another office building in downtown Sarasota is sold!

picture provided via NAI Global

picture provided via NAI Global

Real Estate Deals – September 24, 2013

SOLD: Jewish Family & Children’s Service of Sarasota-Manatee, Inc. has bought from Conforto Ringling, LLC, a 7,606 SF office building located at 1753 Ringling Blvd., Sarasota, Florida 34236. Including the parking garage, the total SF is 11,265. The property totals 9,866 SF.

The property sold for $1,625,000.

Average Building PSF $213.65 (w/o pkg garage SF) $144.25 (w/ parking garage)

Average Land PSF $164.07

Based on this sale and some new construction in the immediate area (The Q Sarasota –click here <—==== ) (The Jewel condo’s in Sarasota – Click here <—===)

Properties for Sale in Downtown Sarasota

#1. A great location across from the building and property above. This subject property sits adjacent to the Q Sarasota development, which you can read more about, HERE <—====.

#2. Apartment complex located downtown that is gorgeous and priced to sell for the right buyer!
Click Here <—==== For more information.

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The Spector Building in Sarasota, FL gains The United Way as a anchor tenant

The Spector Building in Sarasota, FL gains The United Way as a anchor tenant

The Sarasota Office of United Way Suncoast will soon be moving – albeit just down the street from where they have occupied offices since 1997. On June 18th, the nonprofit sold the building they have owned and occupied for 16 years at 1445 2nd Street in Downtown Sarasota. The United Way staff will continue to work from this location until later this summer.

Katie Knight, Sarasota Area President for United Way Suncoast, said it was important to the United Way board in Sarasota to remain in the downtown area. “We are moving just a few blocks down the street and have the opportunity to champion our work in the community from a new professional space that better meets our needs.” Knight also reported that United Way will remain co-located with the staff of United Way’s 2-1-1 – a three-digit call in number used to direct people in need to the appropriate community services.

“The new office is located on the first floor of the BB&T Financial Center and will be easily accessible to our volunteers and community partners,” offered Knight. “We want the office to be a resource to our community and will have adequate facilities for learning and collaboration.”

United Way Suncoast anticipates they will move to the new Sarasota office on or about September 1, 2013, in time for the launch of United Way’s 2013 community campaign season.

For more information in regards to The United Way and the services and philanthropy they provide, CLICK HERE <———==========

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Bradenton holds high hopes for restored historic hotel as it becomes 160-unit hotel

Bradenton holds high hopes for restored historic hotel as it becomes 160-unit hotel

Bradenton Multi-Family, Apartments, Hotels, Motels and Investments!

Bradenton Multi-Family, Apartments, Hotels, Motels and Investments!

By Harold Bubil

BRADENTON – The Pink Palace blushes no more.

But that is rightly so, say historians, since the old Manatee River Hotel was off-white when it opened in 1926, at 309 10th St. W.

After 87 years as a hotel, a senior community and an assisted-living center — followed by several more recent years as a boarded-up eyesore — the newly re-hued Beige Palace will get a new life, as a 119-room Hampton Inn & Suites hotel.

It could have gone the other way.

Southwest Florida has developed a well-earned reputation for treating old landmarks with disdain — and dynamite. Think Bradenton’s Dixie Grande Hotel in 1974 and Sarasota’s John Ringling Towers, in 1998.

For complete article, CLICK HERE <——-=========

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2013 Florida ICSC – Sunshine State Shines On

2013 Florida ICSC – Sunshine State Shines On

CRE at NAI with Sean Dreznin

CRE at NAI with Sean Dreznin

By Jonathan Hipp

– Sunshine state continues to shine as close to 3500 retailers gathered in Kissimmee this year for the Florida conference, up roughly 10% over last year.

– A number of new tenants were at the show, with more non-credit tenants looking for space, a sign showing that business lending has improved down the spectrum of credit. In previous years, tenant activity was limited to mostly credit tenants such as CVS/WAG/McD’s/Chase/TD Bank, etc. Now you are seeing franchisees, new concepts, and non-credit operators actively looking for sites.

– Hiring has moved up slowly for firms. Some groups have built enough of a pipeline of business to require additional staff, however decision makers are very consciously avoiding a “too much, too soon” scenario within their businesses.

– As a state and industry, we are clearly improving, but not without concern of where the recovery will lead us. Macroeconomic issues create hesitation, ultimately leading everyone to operate with a cautiously optimistic outlook.

– New construction is one of the most discussed topics as any new ground up development was rare.

– Planning for new locations is in full swing and will most likely peak, in deliveries, in 2015. New tenants are starting to show interest in building new locations and are focusing on Florida for their expansion.

For more articles like this, CLICK HERE <—-==========

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Immaculate Downtown Sarasota Office Building For Sale ** Investor/User

Immaculate Downtown Sarasota Office Building For Sale ** Investor/User

Click for access to property info & virtual deal room.

NAI Tampa Bay and Sean Dreznin are proud to present this signature office building in Sarasota, Fl for sale.

NAI Tampa Bay and Sean Dreznin are proud to present this signature office building in Sarasota, Fl for sale.

NAI Tampa Bay and Sean Dreznin are pleased to offer the sale of a signature office building on the east side of the downtown Sarasota market. This property provides a strong opportunity for the right buyer to capitalize on a long-term tenanted building with potential, solely as an investment or as a user/investment property.

CLICK HERE <——-============ to view more detailed information.

Owner will stay as tenant for additional year or vacate the property if so desired.

– Elevator Building
– Shared Restrooms, Private to the tenants and their clients
– Newly Landscaped
– Carport Parking and General Parking as well
– Well Maintained

“Corner of Shade and Ringling”

Great Location just South of Fruitville Rd and just East of US 301.

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Bill dies to phase out commercial-lease tax

Bill dies to phase out commercial-lease tax

April 28, 2013 – Reposting from an earlier story

By Mary Shanklin, Orlando Sentinel

Legislation that would have phased out the longstanding sales tax charged on commercial leases has died in committee during the current session of the state Legislature.

The International Council of Shopping Centers and Florida Realtors were among the groups pushing for bills that would have phased out the tax by 2019. They had been introduced by Sen. Dorothy Hukill, R-Port Orange, and Rep. H. Marlene O’Toole, R-Lady Lake. A spokeswoman for Hukill’s office said the measures did not have the support necessary to get either to the full House or Senate.

The tax generates about $1.2 billion a year in revenue for the state. Retailers had championed the bills, saying they would have freed up more money to invest in properties and offer out-of-state companies more incentives to move to Florida.

Florida is the only state that taxes commercial rents, according to Florida Realtors. Commercial tenants pay 6 percent sales tax on rent, and local governments may charge an additional discretionary sales surtax.

The sales tax applies to the “total rent charged,” which covers a wide range of lease-related charges. Businesses often pay sales tax on insurance premiums, property taxes and common-area maintenance fees for such things as landscaping, janitorial services and building repairs.

For the full article and others, CLICK HERE <———-==========

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