Wesco Turf buys former FedEx building to expand service shop

BUYER: Wesco Turf Inc. (officers: William Gamble III, William Gamble IV, David Crofoot, Farrell Conlon and Patrick Duggins), Sarasota
SELLER: Douglas and Linda Cardente
PROPERTY: 2033 Cantu Court, Sarasota
PRICE: $3.5 million
LAW FIRM ON DEED: Shumaker Loop & Kendrick LLP, Sarasota

PLANS, DESCRIPTION: Wesco Turf Inc. purchased a 37,501-square-foot former FedEx distribution building for $3.5 million.

The price equated to $93 per square foot. That figure is lower than the two-year average price per square foot for industrial space ($104) in the Tampa Bay area, according to the CoStar Group.

The golf, grounds and irrigation equipment company plans to use the industrial building for storage so it can expand its service shop for golf-course/turf equipment in its existing space.

“From an operations perspective this nearly doubles our operating space in Sarasota,” says Dave Crofoot, the company's chief financial officer. “This will make our third building. Our international shipments have also been growing, and we've need more space to warehouse that equipment.”

The company, which currently employs about 70 people, plans to hire another 12 technicians as part of the expansion.

Wesco Turf mortgaged the industrial building to The Northern Trust Co. for $2.12 million.