Real Estate Briefs (Sara/Mana)

Real Estate Briefs (Sara/Mana)

Consolidated Resource Recovery

buys 112 acres in Myakka City

Buyer: Consolidated Resource Recovery, Sarasota

Seller: John and Century Bukiet

Property: Grazing land at 45520 Clay Gully Road and additional land, Myakka City

Price: $975,000

Previous price: $151,000, January 1995, and $40,000, February 2002

Law firm on deed: Porges Hamlin Knowles Prouty PA, Bradenton

Plans, description: The forestry-material recycling company Consolidated Resource Recovery has purchased about 112 acres in Myakka City. The property is next to an 82-acre section in Myakka City the company acquired in April from Steven and Sharon Tucker for $530,000.

"We really bought this as an investment," says Steven Lubbers, a company vice president. "Maybe we will build a tree farm there. That really makes sense. Or we might do nothing and just hold it." The property is on the Manatee-Desoto border.

SDC Communities hooks

up with Waterford Cos.

Buyer: Waterford at Bay Street LLC (Waterford Cos.), Venice

Seller: Sarasota Development Corp., Henry Rodriguez, Bay Street Village and Town Center LLC and Grand Oak Village II LLC

Property: Old Venice Road and additional property, Osprey

Price: $15 million

Law firm on deed: Abel Band Russell Collier Pitchford & Gordon, Sarasota

Plans, description: Mike Miller's Waterford Cos. has struck a deal with Henry Rodriguez to build an $180 million new urbanism-style Bay Street Village and Town Center at Bay Street and U.S. 41 in Osprey. Waterford at Bay Street Village LLC will build 500 condos and townhouses behind the village green.

However, Rodriguez' SDC Communities will manage the construction of the commercial aspect of the shopping village and 32 of the condos. The two developers are currently working with engineers and architects, and plan to break ground in January. Miller says the first condos should be ready for occupancy by the end of 2006.

Miller's Waterford at Bay Street Village LLC mortgaged the property to SunTrust Bank for $11.3 million.

Investors purchase

S.R. 64 property

Buyer: Partners 64 (principals Barbara Anson and Alice Cislo)

Seller: Thomas and Frances Beimborn, individual and trust

Property: 5920 State Road 64 E. and 702, 706, 718 60th St. Court E., Bradenton, Interstate Business Park

Price: $3.4 million

Previous Price: $115,000, June 1988/ $57,500, May 1987/ $185,000, May 1986

Law firm on deed: Harrison Hendrickson & Kirkland PA, Bradenton

Plans, description: Mortgage company owner Alice Cislo, Realtor Barbara Anson and other investors purchased about 769 acres fronting State Road 64 and bordered by 60th Street Court.

"The bulk of the property is already GC (general commercial)," Cislo says. "It goes to the Yoders property. We already have a contract pending on the entire front portion of the property; we are still taking backup offers. Now we are looking for buyers for the rest of the property."

Irongate Realty is helping market the property.

Michael Saunders & Co.

starts new Main Street office

Buyer: Saunders Family Ltd. Partnership LLLP (Michael Saunders & Co.), Sarasota

Seller: LWR Main Street LLC

Property: 8325 Lakewood Ranch Blvd., Lakewood Ranch Main Street

Price: $800,000

Law firm on deed: Greene & Schermer, Bradenton

Plans, description: Sarasota-based Michael Saunders & Co. bought an outparcel next to Casto Lifestyle Properties and Schroeder-Manatee Ranch's $25-million retail and condominium development Main Street at Lakewood Ranch. The dominant real estate firm in Sarasota County plans to build a 13,000-square-foot Mediterranean-style building.

"This is our first building built from the ground up," Michael Saunders says. "Our current office on State Road 70 is just inadequate for our needs. ... The office space will feature a gallery space to show off new developments."

Hoar Construction Co. started construction on the new building, designed by Sarasota's Hoyt Architects, this week. Saunders says the building will house about four full-time support staff members and about 50 sales associates. The estimated completion date for the new building is January 2006.

Michael Saunders mortgaged the land to SunTrust Bank for $3.15 million.

Maitland developers buy

South Tamiami gas station

Buyer: Promenade Partners II of Sarasota Ltd. (Cogan Development Co., Neil Malamud and Ron Shenkin)

Seller: Motiva Enterprises LLC, Houston

Property: 6494 S. Tamiami Trail, Sarasota

Price: $1.8 million

Previous price: September 1998

Law firm on deed: Shannon Gracey Ratliff & Miller LLP, Arlington, Texas

Plans, description: The developers behind a $350-million mixed-use development on 25 acres at Stickney Point Road and U.S. 41 have purchased a nearby gas station called the South Key Shell Station.

Maitland-based developer Cogan Development Co. and financiers Neil Malamud and Ron Shenkin have proposed demolishing facilities in the Pine Shores Trailer Park to develop about 500 residential units, of which most would be contained in six, 10-story towers, and about 200,000 square feet of retail space. The developers expect to start construction in mid-2006.

In addition to the gas station and trailer park properties, the developers say they plan to purchase a building now occupied by A&A Baby and Toddler Rentals.

State Road 64 landowners

to build a Friendly's

The investment group S.R. 64 Real Estate Holdings LLC has started construction on a 4,200-square-foot Friendly's Ice Cream shop restaurant at 6320 State Road 64 E., Bradenton.

The restaurant will mark the local franchise owners Joe Sandor, Joe Camera, Carmine and Fred D'Ariano's third location in the Sarasota-Manatee market. According to Stan Rutstein, a Wagner Realty commercial Realtor and managing member of the land owning entity, the new restaurant is scheduled for completion in July. The general contractor for the development is Springdale, Pa.-based RE. Crawford Construction. The building permit lists the cost of construction at about $1.1 million.

Etc...

• Bradenton's SMG Property Management (SM 17th Avenue LLC) purchased an auto repair shop at 605 17th Ave. W., Bradenton, and a warehouse at 629 17th Ave. W., Bradenton, from Laser Works Inc. for $800,000. SM 17th Avenue LLC mortgaged the property to Wachovia Bank for $600,000.

• Comfort Bath Walk In Tubs of Florida LLC leased 1,350 square feet of office space at 3212-A Gulf Gate Drive, Sarasota, from VSK Enterprises LLC. Marcia Cuttler, of American Property Group, represented the landlord, and Matilda Bellanger, of Keller Williams Platinum Realty, represented the tenant.

• 300 Pineapple LLC purchased a small office building on 15,609 square feet of commercial land at 300 S. Pineapple Ave., Sarasota, from Anita Katzman for $1 million. John Harshman, of Harshman & Co. Inc., represented the seller.

• Jamieson Properties LP purchased an 8,000-square-foot warehouse, at 4380 Independence Court, Sarasota, from M&A Enterprises LLC for $750,000. John Harshman, of Harshman & Co. Inc., represented the seller.