Prominent Sarasota corporate HQ up for sale

Naples

Medical office space opens up

A nearly 8,500-square-foot medical office building is up for lease in Naples. The property is at 1885 S.W. Health Parkway off of Immokalee Road near NCH North Naples Hospital. It sits on 1.3 acres and was previously occupied by Florida Gynecologic Oncology. Saggio Realty says in a marketing flyer that the 26-year-old building, which was renovated in 2020, is suited for corporate offices or medical practices and features a modern interior. The asking rent for the 8,497-square-foot space is $22-per-square-foot annually. According to Collier County property records, the building is owned by Nationwide Health Properties, which paid $3.7 million for it in 2008. (While records show Nationwide as the owner, the company was bought by the health care real estate investment trust Ventas Inc. in 2011.) Saggio broker Mike Rivera is listing the property.

Shopping center getting a ‘refresh’

Mercato, the Naples shopping destination, is getting an upgrade. Work has started on what is being called a refresh of the center’s central piazza. This refresh will see the space triple in size with the addition of turf, seat walls and benches. Other upgrades will include a new covered performance stage, landscaping and lighting with green space lowered to street level, allowing shoppers on to Strada Place when the main thoroughfare is closed to vehicle traffic. The goal of the project, the center’s management says, is to create a more connected, pedestrian-friendly environment. Mercato is a 461,000-square-foot mixed-use lifestyle center with a main street-style retail component as well restaurants and entertainment spaces. It’s anchored by Nordstrom Rack, Whole Foods Market and Alamo Drafthouse Cinema. The work on the refresh is expected to be complete by mid-October.

Sanibel

Real estate firm expands further south

Sarasota’s Michael Saunders & Co. has opened a new office in Sanibel. The office, the real estate company’s 18th, is at 1560 Periwinkle Way in a space previously occupied by VIP Realty Sanibel-Captiva. According to a spokesperson, Michael Saunders did not buy the business but is under contract to purchase the building. The new office is the farthest south Michael Saunders has ventured and opens up the Sanibel, Captiva and surrounding markets for the firm. As part of the expansion, MSC, as it is sometimes known, has added several local agents, including from VIP. Michael Saunders & Co. has more than 600 agents and 150 support employees across the region.

Tampa

Fractured condo sale near the University of South Florida

Image courtesy of Berkadia

Ambrus Asset Management has bought up 248 of the 260 units at a 51-year-old condominium community in Tampa. The real estate investment and property management firm plans to completely renovate and reposition the property, Serenity Lake, at 14508 Seaford Circle. Berkadia, which announced the transaction, arranged for a $28.35 million loan for the purchase — $23.25 million is for initial funding, $4.12 million is for capital expenditures, and $1.51 million is for the purchase and renovation of the remaining units. Ladder Capital is the lender. The terms were not disclosed. Serenity Lake, which is just outside the University of South Florida’s main campus, is made up of 16 two-story concrete block buildings and a single-story clubhouse and leasing office. The community was built in 1974 and sits on 15.58 acres. Serenity Lake’s units include one- and two-bedroom apartments with patios and balconies and washer/dryer connections. The community has two pools with sundecks as well as a gazebo and picnic area, grilling stations and a fishing dock. Berkadia’s Scott Wadler, Wes Moczul, Mitch Sinber, Matt Robbins and Brad Williamson worked on the deal.

Hospital expansion begins

AdventHealth Tampa has started construction on a facility in Tampa that will include, among other uses, a new cancer center. The five-story, 100,000-square-foot medical office building is being built off of Bruce B. Downs Boulevard in the northwest corner of the health care group’s existing Tampa campus. It will include a seven-story garage that will add 1,100 parking spaces to the campus. AdventHealth says the building, in addition to the state-of-the-art cancer center, expands clinical care offerings and specialty imaging for surgical planning as well as the hospital's graduate medical education program. AdventHealth Tampa is a 626-bed hospital. It houses the Pepin Heart Institute and is an accredited chest pain center and comprehensive stroke center. The new building is expected to open in fall 2026 with work on the parking garage expected to be complete by summer 2026.

Sarasota

Corporate headquarters building up for sale

Here’s your chance to own a corporate headquarters with its own lab. A 15,400-square-foot office building is on the market at 7680 Matoaka Road fronting Tallevast Road. The property, which houses Esprix Technologies, is priced at $3.8 million, down from $4.25 million. According to the listing, the property is 1.78 acres with the ground floor set up as a lab with offices, shipping and receiving. The second floor has 17 offices, two private restrooms, bullpen, break room and conference rooms. There is a separate outbuilding for storage. According to Ian Black Real Estate, which has the listing, the property “is easily recognizable with a lake and fountain plus monument signage and flag poles.” Esprix is a high-performance chemical company. It is looking to scale down and may be interested in leasing back a portion of the building. 

Manatee

Historic farm sells to county

Courtesy image

Manatee County commissioners voted unanimously last week to purchase Mixon Fruit Farms. The sale price was $13.5 million. According to the East County Observer, a sister paper of the Business Observer, the county will continue hosting private events at the farm, but there are also plans to use the farm as a new venue for existing county programming. Eventually, the 14,000-square-foot on-site store will serve as a library, which will include a commercial teaching kitchen. According to the sales contract, the county will close on the property at 2525 27th St. E. on or before Sept. 12. There had been interest from developers to buy the historic property, but the owners hoped the county would step in, even dropping the asking price. (The appraised value was about $15.75 million.) The Observer reports that Commissioner Amanda Ballard led the charge to purchase the former citrus farm, which is in her district. She reallocated funds from two other projects — $3 million to rehab a building into office space and over $1 million to resurface a parking lot — to make the purchase more “financially feasible" for the county. Mixon Fruit Farms got its start in 1939 and closed July 2023.

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