TCB moving to Palmetto

TCB moving to Palmetto

BUYER: Lindsay Rolfe and Rodney Cole, Bradenton

SELLER: Leather Express Inc.

PROPERTY: 1507 E. 17th St., Palmetto

PRICE: $700,000

PREVIOUS PRICE: $695,000, April 2001

LAW FIRM ON DEED: Roger P. Conley Chartered, Bradenton

PLANS, DESCRIPTION: Lindsay Rolfe and Rodney Cole of TCB Products Inc. purchased the 14,016-square-foot former Leather Express building on 17th Street next to 16th Avenue for $700,000. Built in 1975, the building, which occupies a 2.89-acre parcel, houses a 2,016-square-foot office.

TCB Product, which makes automotive spark-plug wires, will be relocating to the building from a leased 20,000-square-foot location on 33rd Street East in Bradenton.

“When you're renting you are subject to the rent being adjusted annually,” Cole says. “We didn't enjoy that a lot ...spending a lot of money and having nothing to show for it. So we really wanted to buy a building as a means of controlling costs.”

The new owners are updating the office space and renovating the warehouse area with additional insulation along with electrical and air-conditioning improvements. Cole and Rolfe have budgeted $100,000 for the renovation.

The 30-employee company is scheduled to move in mid-December. Cole and Rolfe mortgaged the property to SunTrust Bank for two loans totaling $630,000.