Goodwill Industries-Manasota buys North Trail Sarasota store

BUYER: Goodwill Industries-Manasota Inc. (principals: Robert Rosinsky, Charlie Lenger, John McKay, Steve Boone and Peter Crowley), Sarasota
SELLER: Paul Beitlich as trustee of The Florida Land Trust, #GW-1
PROPERTY: 5150 N. Tamiami Trail, Sarasota
PRICE: $4.9 million
PREVIOUS PRICE: $232,900, January 2011
LAW FIRM ON DEED: Blalock Walters PA, Bradenton

PLANS, DESCRIPTION: Goodwill Manasota Inc. has purchased its 29,699-square-foot North Trail Sarasota store for $4.9 million.

The price equated to $165 per square foot. That figure is higher than the two-year average price per square foot for retail space ($146) in the Tampa Bay area, according to the CoStar Group.

The building features 16,000-square-feet of retail space, a drive-up donation center and a Job Connection and Good Neighbor Center. Developed by JEBCO Ventures, the store opened in February 2013.

“We have been leasing it and had a purchase option,” says Bob Rosinsky, CEO and president of Goodwill Manasota. “It's in an excellent location. It will also save us $100,000 annually by owning it versus leasing it.”

Rosinsky complimented JEBCO owner Jim Bridges for developing the site for the nonprofit instead of potentially more profitable uses.

The purchase entity, Goodwill Industries-Manasota Inc., mortgaged the property to Branch Banking and Trust Co. for $4.9 million.