West Coast Mattress of Venice plans future move, expansion

BUYER: KSS of Southwest Florida LLC (principals: Kanwarjit and Keith Sawhney), Venice

SELLER: Caravel Brazil LLC

PROPERTY: 500 S. U.S. 41 Bypass, Venice

PRICE: $1 million

PREVIOUS PRICE: $1.3 million, January 2005

LAW FIRM ON DEED: Snyder Law Group PA, Bradenton

PLANS, DESCRIPTION: Father Kanwarjit Sawhney and his son Keith Sawhney, owners of West Coast Mattress of Venice, purchased a retail building and a smaller industrial building for $1 million.

The price equated to $65 per square foot.

The 2.4-acre property features the 12,860-square-foot former home of The Lighthouse and a 2,460-square-foot light industrial warehouse building. Both buildings were built in 1971.

West Coast Mattress of Venice is facing the threat of losing its existing building at 101 North U.S. 41 Bypass to future road expansion. The two nearby buildings were purchased as the future home of the 3-year-old mattress store and as a replacement for rented warehouse space.

“It's probably going to be a year or more before the expansion happens there,” Keith Sawhney says. “We'll be leasing it out until then. It's definitely bigger. Our existing store is 3,200 square feet and our warehouse is 3,800 square feet. Eventually, when we move we will probably share some of the space with another business, but we'll still have more space and a bigger showroom.”

In the near term, the new owners are planning to renovate the signage and cleanup the property.

Kanwarjit Sawhney says he's considering buying some additional property either for a future West Coast Mattress of Venice expansion or strictly as an investment.

“Real estate is starting to move, but it's still fairly reasonable,” he says. “If I wanted to pick up some more real estate, now might be the time to do it.”

Tom Farr of the Commercial Division of Michael Saunders & Co., represented the seller and Farr and Jackie Kennedy, a residential agent with the Venice office of Michael Saunders & Co., represented the buyer.