Sarasota's McKay Law Firm buys former Pat Cook Construction building

BUYER: McKay Law Firm PA (officers: Scott and Telese McKay), Bradenton
SELLER: Cadence Bank NA
PROPERTY: 1904 W. Manatee Ave., Bradenton
PRICE: $990,000
PREVIOUS PRICE: $340,000, February 2004
ATTORNEY ON DEED: D. Mark Payne attorney, Lakewood Ranch

PLANS, DESCRIPTION:
Sarasota-based McKay Law Firm PA purchased the 6,600-square-foot former Pat Cook Construction building for $990,000.

The price equated to $150 per square foot. That figure is higher than the two-year average price per square foot for office space ($118) in the Tampa Bay area, according to the CoStar Group.

Located on the Manatee River just east of Wares Creek, the vacant office building features two levels of office space over ground-level parking. The law firm plans to occupy the third level and lease out the second floor.

The seller, Cadence Bank NA, foreclosed on the 7-year-old building from its construction company owner in May.

Attorney Scott McKay says the law firm has been looking for while for a Manatee County office closer to where its two owners live. Although the space is smaller than the firm's existing leased 4,300-square-foot location in Sarasota, McKay says, the new location's layout should allow it to fit just as well

“This is one of only five private buildings like it in Manatee County,” he says. “This building is close to the courthouse with all the downtown amenities. It's a class A building with a great image. Its pretty much already setup for what we do as it sits now.”

McKay says it was the combination of the building's build quality, location, view and amenities that finally convinced the law firm to buy it.

McKay Law Firm plans to keep a presence in Sarasota, McKay says, but he was unsure of exact what form that would take. The firm is scheduled to start operating from the new location in a month or two.