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

Miami /
Dec.December 30, 2017 02:00 PM

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


Related Articles

arrow_forward_ios
View of the buildings at 612, 817 and 815 Lincoln Road in Miami Beach and Terranova’s Stephen Bittel (Google Maps, Terranova Corp)
Lease roundup: Terranova, Millennium, R&B, Duke nab tenants
Lease roundup: Terranova, Millennium, R&B, Duke nab tenants
1600 Northeast 12th Terrace
Triangle Services pays $17.5M for Fort Lauderdale industrial building
Triangle Services pays $17.5M for Fort Lauderdale industrial building
Link Logistics' Luke Petherbridge with 115.7-acre site at 21001 Northwest 27th Avenue (LinkedIn, Google Maps)
Blackstone’s Link Logistics pays $291M for Calder’s horse racing track
Blackstone’s Link Logistics pays $291M for Calder’s horse racing track
EverWest Real Estate Investors' Rick Stone and Tyler Williams; rendering of the newly built industrial property at 10900 Northwest 146th Street in Hialeah Gardens (Commercial Property Group, EverWest Real Estate Investors, iStock)
EverWest buys Hialeah Gardens industrial building for $43M
EverWest buys Hialeah Gardens industrial building for $43M
First Industrial Realty's Peter E. Baccile with 1801 North Andrews Avenue (First Industrial Realty Trust, Colliers, iStock)
First Industrial picks up Pompano Beach manufacturing facility for $25M
First Industrial picks up Pompano Beach manufacturing facility for $25M
RFR's Aby Rosen with 100 Biscayne, RFR, Lease Roundup
Lease roundup: Fintech firm moves HQ to Aby Rosen’s 100 Biscayne in Miami
Lease roundup: Fintech firm moves HQ to Aby Rosen’s 100 Biscayne in Miami
SROA Capital's Ben Macfarland III with 000 Pembroke Road (LinkedIn, Loopnet)
SROA Capital pays $20M for Hallandale Beach industrial-flex property
SROA Capital pays $20M for Hallandale Beach industrial-flex property
LBCW Investments' Clay Hamlin III with 1100 25th Street and 1426 Skees Road (Loopnet, LBCW)
Industrial play: Alliance HP trades one West Palm complex for another
Industrial play: Alliance HP trades one West Palm complex for another
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...