Workers compensation attorneys plan S.R. 64 mediation, conference center

BUYER: Lakewood Ranchers LLC, Lakewood Ranch

SELLER: Stearns Bank NA

PROPERTY: 812-887 62nd St. Circle E., Bradenton

PRICE: $1.85 million

LAW FIRM ON DEED: Fryberger Buchanan Smith & Fredick PA

PLANS, DESCRIPTION: Bradenton attorneys Trent and Lesa Miller purchased the 42,000-square-foot, eight-building K-Centre on State Road 64 for $1.85 million.

The price equated to $44 per square foot. That figure is lower than the two-year average price per square foot for retail space ($146) in the Tampa Bay area, according to the CoStar Group.

The 6.26-acre property features five completed buildings and three shell buildings with undeveloped interiors. The completed buildings are leased to Dunkin' Donuts, D. Americo's Pizzeria, Smarty Pants Pre School, Jack Bostock, the Center For Men's Health LLC, Skin Care By Jewls LLC and others. Only 3,000 square feet is still vacant in the completed space.

All the buildings were previously bank-owned by Stearns Bank NA.

Trent and Lesa Miller, who separately own and operate their own law firms Miller & Miller P.L and the Work Comp Group respectively, plan to convert the three grey shell buildings into the Florida Mediation and Conference Center. The Millers have hired Sarasota-based Dovtec Construction Inc. to create a number of small- and medium-sized conference spaces in the central 5,000-square-foot building.

In addition, the Millers will be converting the remaining two buildings (11,000 square feet) into the executive suites for attorneys and other legal mediation-related businesses.

“We plan to market it as conference center that focuses on mediation,” says Lesa Miller. “Our venue will offer non-partisan neutral ground for both parties to meet.”

Mediation has grown in popularity as an alternative to the court system and arbitration, where another independent person offers a decision. The Millers found while researching their business plan that mediation has grown 2% to 3% every year over at least the past decade.

The Millers plan to take the certification course to become bar-approved mediators.

The new owners say the closest similar mediation-focused space is in Fort Myers and it is scheduled to close, but not for business reasons.

Sam Watkins, Janet Lincoln and Janet Robinson of Coldwell Banker Commercial NRT represented the seller and Greg Sheller of Re/Max Alliance Group represented the buyer.

“They got retail space for half of what it cost to build it and that's being conservative,” Robinson says, “It would probably cost more than $115 a square foot to build it.”