The Real Deal Miami

Industrial complex next to Sarasota airport fetches $56 per square foot

Investors Lee Rosen and Jim Tsunis paid $10.4M for the 183,283-square-foot property
December 30, 2017 02:00PM

Airport Commerce Center near Sarasota-Bradenton International Airport

Two investors paid $10.4 million for a complex of eight industrial buildings next to Sarasota-Bradenton International Airport.

Investors Lee Rosner and Jim Tsunis paid about $56 per square foot for the Airport Commerce Center, located just north of the airport. Rosner and Tsunis own approximately one million square feet of industrial space across the country.

Rosner, based in Islandia, New York, told the Sarasota Herald-Tribune the Airport Commerce Center is in “fair to good condition” and that he and Tsunis plan turn it “back into first-class industrial warehouse space.”

About 11,000 square feet, or 7 percent, of the 183,283-square-foot industrial complex is vacant.

The property was built in phases from 1985 to 1994 in the 7000 block of 15th Street East and the 1100, 1200, 1300 and 1400 blocks of Tallevast Road, along the north side of Sarasota-Bradenton International Airport.

Previous owners of the Airport Commerce Center include Airport Commerce LLC, which  bought the property for $8.3 million in 2012, and a Miami-based entity that paid $15.25 million in 2006. [Sarasota Herald-Tribune] — Mike Seemuth