Xbyte Technologies buys Bradenton warehouse building

BUYER: Xbyte Technologies LLC (principal: Thomas Santilli), Sarasota

SELLER: Commercial Plastering Inc.

PROPERTY: 4614, 4618, 4622, 4626, 4630, 4634 and 4638 E. 19th St. Court, Bradenton

PRICE: $1.15 million

PREVIOUS PRICE: $201,000, May 2003

LAW FIRM ON DEED: Greene Hamrick Perrey Quinlan & Schermer PA, Bradenton

PLANS, DESCRIPTION: Sarasota IT equipment reseller Xbyte Technologies LLC purchased a 27,076-square-foot flex building for $1.15 million.

The price equated to $42 per square foot.

The firm plans to relocate from the 14,000-square-foot building it has been leasing at 911 Commerce Blvd. N., Sarasota.

“This is going to facilitate an expansion of our business for both people and inventories,” says Stephen Jaynes, chief operating officer for Xbyte Technologies. “We're going to be more than doubling our size.”

Jaynes says the company has been experiencing explosive growth the past several years, including 50% revenue growth each year since 2010. The company, he says, has run out of places for inventory and more importantly people.

Xbyte Technologies plans to gradually transition to the new building.

The Manatee Board of County Commissioners recently approved a $76,000 performance-based incentive grant for the company contingent on a specified level of job growth.