Glennlauren buys Wells Fargo building

BUYER: Glennlauren LLC (principal: Thomas Harshman), Allentown, Pa.

SELLER: John Cox III as successor trustees of the John Cox Revocable Trust

PROPERTY: 7100 S. Beneva Road, Sarasota

PRICE: $1.7 million

PREVIOUS PRICE: $320,000, November 1996

LAW FIRM ON DEED: Berlin-Patten PLLC, Sarasota

PLANS, DESCRIPTION: Glennlauren LLC purchased an 8,225-square-foot office building for $1.7 million.

The price equated to $207 per square foot.

Thomas Harshman, an investor from Pennsylvania, leads Glennlauren LLC.

The building, on Beneva Road north of Gulf Gate Drive, is leased to Wells Fargo Advisors.

John Harshman of Harshman and Co. Inc. represented the buyer and John Ask of the Florida Home Team LLC represented seller. John and Thomas Harshman aren't related.

“For the buyer this was a leased investment,” John Harshman says. “They have no plans for it except the status quo. It was just a quality building with a quality tenant.”

Glennlauren LLC mortgaged the building to Sabal Palm Bank for $1.28 million.