Sarasur Properties buys space in medical building

BUYER: Sarasur Properties LLC (principal: John Nora), Sarasota

SELLER: Sarasota County Public Hospital Board

PROPERTY: Sarasota Medical Condominium, 1950 Arlington St., units 308-313, Sarasota

PRICE: $1.01 million

LAW FIRM ON DEED: Williams Parker Harrison Dietz & Getzen, Sarasota

PLANS, DESCRIPTION: Sarasota Surgical Specialists' four surgeons purchased 5,196 square feet in the Medical Arts Building for $1.01 million.

The price equated to $194 per square foot.

The medical practice has leased space on the third floor of the building since January. Dr. John Nora, Dr. Russell Novak, Dr. T. Patrick Fitzgerald and Dr. James Fogleman make up the surgical practice. The original lease agreement contained an option to purchase the space, according to Nora.

The Sarasota Memorial Health Care System gutted the four-story building and has been gradually renovating the interiors as tenants or buyers take on space.

Ken D'Agostino of D'Agostino Real Estate Group Inc. represented the buyers.

“The bones of the building are really good,” D'Agostino says. “They cleaned it all the way down to the cement. It has new windows, electrical, plumbing [and] a brand new roof.”

Sarasur Properties LLC mortgaged the space to The Bank of Commerce for $840,000.