South Trail Walgreens sells for $5.58 million

BUYER: Walsota LLC (principal: David Baldauf), University Park

SELLER: Bass Family Limited Partnership

PROPERTY: 6465 S. Tamiami Trail, Sarasota

PRICE: $5.58 million

PREVIOUS PRICE: $5.74 million, July 2003

LAW FIRM ON DEED: Benjamin J. Bass Esq., Lake Forest, Ill.

PLANS, DESCRIPTION: University Park-based Benderson Development Co. LLC purchased a 15,460-square-foot Walgreens drug store for $5.58 million.

The price equated to $361 per square foot.

Built in 1995, the drug store occupies a 1.96-acre site.

“We were attracted both by the quality of the tenant and the quality of the location,” says Mark Chait, Benderson Development's executive director of leasing for the Southeast.

Better known as a shopping center and industrial owner/operator, Benderson Development also holds a large portfolio of single-tenant properties.

The large retail owner has been especially active in its backyard the past few months. It recently acquired the 27-acre Washington Crossing land on U.S. 301 for $850,000. It also purchased the 105,873-square-foot Pelican Plaza and the 83,890-square-foot Southbay Shopping Center in Sarasota County from Ramco-Gershenson Properties Trust for a total of $5.6 million.

Benderson owns and manages more than 700 properties with more than 40 million square feet in 38 states.