Sarasota office building hits the market without an asking price

Kane Plaza has 77,089 square feet and a four-level, 243-space parking garage

TRD MIAMI /
Feb.February 11, 2018 12:00 PM

Kane Plaza office building in Sarasota – (Credit: Sarasota Herald-Tribune)

The owner of a 10-story office building in downtown Sarasota listed the property for sale without an asking price.

The building, called Kane Plaza, has 77,089 square feet of space and a four-level parking garage with 243 spaces.

Built in 2000, Kane Plaza is the tallest office building on the east side of downtown Sarasota.

The building, located at 1 South School Avenue, has direct frontage on signage on Fruitville Road, the primary east-west arterial road in Sarasota.

Its location is less than a five-minute drive from Interstate 75, U.S. Highway 301 and Sarasota’s central business district.

Several real estate developments on nearby sites are under way, which could boost demand for office space. These developments near Kane Plaza would encompass more than 10,000 square feet of commercial space plus 615 apartments and 37 townhouses with prices starting at $500,000.

The exclusive advisor for the sale of Kane Plaza is Institutional Property Advisors, a division of real estate brokerage firm Marcus & Millichap.

The owner of Kane Plaza, a company called TerraCap, decided against listing the property with an asking price, so “the price is open bid,” Marcus & Millichap said in a press release.

Douglas K. Mandel, senior managing director, and Nicholas Hansen, senior associate, are representing TerraCap. – Mike Seemuth


Related Articles

arrow_forward_ios
Charles Cohen and a rendering of the project (Getty, Pelli Clarke Pelli Architects)

Billionaire Charles Cohen proposes 338-foot tall office tower in West Palm

Billionaire Charles Cohen proposes 338-foot tall office tower in West Palm
4700 North Congress Avenue and Velocis Managing Partner Fred Hamm (Google Maps)

Private equity firm sells West Palm medical offices at discount

Private equity firm sells West Palm medical offices at discount
Swire president Kieran Bowers and Brickell City Centre (Google Maps)

Swire sells Brickell City Centre office buildings for $163M

Swire sells Brickell City Centre office buildings for $163M
As resi brokers in South Florida report an uptick in sales and rentals largely fueled by homeowners fleeing dense markets like New York, office brokers say they’re starting to see a similar trend play out among tech firms. (iStock)

More tech firms eye Miami as Covid carries on

More tech firms eye Miami as Covid carries on
Rendering of the project with Jon Paul Pérez (top) and Jorge Pérez 

Related switches gears on Terminal Island project, now plans low-rise offices

Related switches gears on Terminal Island project, now plans low-rise offices
NAI/Merin Hunter Codman Chairman Neil Merin and Golden Bear Plaza

Golden Bear Plaza office complex in Palm Beach Gardens sells for $50M

Golden Bear Plaza office complex in Palm Beach Gardens sells for $50M
Anabella Smith, Louis Archambault, Scott Goldstein

“There’s a lot of concern about going back to an office”: how companies are returning to work in South Florida

“There’s a lot of concern about going back to an office”: how companies are returning to work in South Florida
Jeff Greene and a rendering of 550 North Quadrille Boulevard (Credit: Arquitectonica International via Facebook)

Billionaire Jeff Greene battles with WPB mayor over unfinished office building

Billionaire Jeff Greene battles with WPB mayor over unfinished office building
arrow_forward_ios

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

Loading...