Donato buys five Main Street buildings

BUYER: Main 1453 LP (principal: Lou Donato), Oakville, Ontario, Canada
SELLER: Hafam FL 1453 LLC
PROPERTY: 1453 Main St., Sarasota
PRICE: $775,000

BUYER: Main 1441 LP (principal: Lou Donato), Oakville, Ontario, Canada
SELLER: Hafam FL 1441 LLC
PROPERTY: 1441 Main St., Sarasota
PRICE: $775,000

BUYER: Main 1475 LP (principal: Lou Donato), Oakville, Ontario, Canada
SELLER: Hafam FL 1475 LLC
PROPERTY: 1471 Main St., Sarasota
PRICE: $775,000

BUYER: Main 1465 LP (principal: Lou Donato), Oakville, Ontario, Canada
SELLER: Hafam FL 1465 LLC
PROPERTY: 1465 Main St., Sarasota
PRICE: $775,000

BUYER: Main 1459 LP (principal: Lou Donato), Oakville, Ontario, Canada
SELLER: Hafam FL 1453 LLC
PROPERTY: 1459 Main St., Sarasota
PRICE: $775,000

BUYER: Main 1466 LP (principal: Lou Donato), Oakville, Ontario, Canada
SELLER: Hafam FL 1466 LLC
PROPERTY: 1466 Main St., Sarasota
PRICE: $425,000

LAW FIRM ON DEED: Feldman & Roback, Attorneys at Law, Bradenton

PLANS, DESCRIPTION: Canadian businessman Lou Donato in a single transaction became one of the largest owners of Sarasota Main Street real estate. Several Donato-led companies purchased 23,345 square feet of retail space in five contiguous buildings and a 5,000-square-foot vacant lot for $4.3 million. The price equated to $184 per square foot.

DeLieto & Associates of Michael Saunders & Co. represented the buyer and Ryan Hoffman of Wagner Realty represented the sellers, Rosalie Shmalo and Dr. John Hanna.

Both of the brokers declined to comment on the seller, new owner and the future of the property, citing a desire by both owners for confidentiality. Hoffman has been retained by the new ownership to continue to manage the properties.

The buildings are currently 100% occupied. Tenants include The Lemon Tree Boutique, Angsana Sarasota, Happy Feet Plus and Wet Noses.

The buyer mortgaged the properties to the seller for $3.1 million.

Donato-led companies also recently purchased the undeveloped Devonshire Park property for $1.6 million and the four-unit Outrigger Apartments building on Golden Gate Point for $1.05 million.

Donato is the owner of the Japanese restaurant chain Teriyaki Experience and Mrs. Vanelli's Fresh Italian Foods.