Sarasota entrepreneur, hotelier buys Veranda Inn, Cafe

BUYER: Island Sun Inn LLC (principal: George Perreault), Sarasota

SELLER: Peninsula Property Holdings LLC

PROPERTY: 625 S. Tamiami Trail, Venice

PRICE: $721,000

PREVIOUS PRICE: $2.42 million, August 2009

LAW FIRM ON DEED: Akerman Senterfitt, Miami

PLANS, DESCRIPTION: Sarasota businessman George Perreault purchased the 38-unit Veranda Inn & Cafe in Venice for $721,000.

The price equated to $18,974 per unit.

The hotel features a swimming pool, courtyard and restaurant.

In a move to better link the property to Perreault's Island Breeze Inn, the inn is being renamed the Island Sun Inn.

“It's in a really good location, near the Island Breeze Inn, with a lot of potential to be really nice for families,” says Alan Wells, general manager of both properties. “It has really large rooms. The property needs little bit of work, but it won't be a huge undertaking.”

The new ownership plans to clean and make cosmetic improvements to the hotel.