SVN Closes $6.8 Million Deal on 444 Acres of Land
Undeveloped Manatee County property lies between Sarasota and Tampa
Sarasota, Florida (February 4, 2016)—SVN® Florida senior advisors Ashley Barrett Bloom, Ron Zeigler and J. Chris Malkin have successfully coordinated a $6.8 million transaction on 444 acres of undeveloped land in Manatee County, Fla. The property contains more than a mile of frontage on Interstate 75 between Tampa and Sarasota.
The Kolter Group, a real estate development and investment firm with headquarters in West Palm Beach, purchased the property from a major real estate equity fund. In 2015, the Manatee County Commission approved a plan that allows the buyer to develop 1,103 homes – 803 single-family homes and 300 multi-family – along with 100,000 square feet of commercial property.
“This is prime land,” said Bloom, who is also SVN’s National Land Product Council Chairman. “The buyers are going to develop residential lots for several homebuilders. It will be an excellent enhancement to the community, which is nicely located between two major Florida cities.”
Except for a farm and a cell tower, the land is currently unoccupied. The construction will take place in the unincorporated community of Parrish. The property includes 1,000 feet of frontage on 69th Street.
“The county is careful to ensure that the housing in this community is integrated with environmental areas to reduce the impact when there’s so much new construction,” Malkin said. “A great deal of planning has gone into this.”
SVN Florida provides services in more locations than any other Florida commercial real estate firm and advisors in Jacksonville, St. Augustine, Tallahassee, Panama City, Pensacola, Ocala, New Smyrna Beach, Orlando, Lake Mary, Winter Park, Tampa, St. Petersburg, Sarasota, Bradenton, Naples, Fort Myers, Jupiter, West Palm Beach, Stuart, Fort Lauderdale, Hialeah and Miami. The SVN Florida team represents clients in office, multifamily, retail, industrial, self-storage, hospitality, marina, mobile home park and land transactions
About SVN® Florida Commercial Real Estate Advisors
SVN®, a commercial real estate brokerage franchisor headquartered in Boston, MA, is one of the industry's most recognized brands based on the annual Lipsey Top Brand Survey. With more than 190 locations in 500 markets, SVN Commercial Real Estate Advisors provide sales, leasing, and property management services to more than 5,550 clients worldwide. The Florida team consists of more than 90 Advisors serving locations throughout the state.
SVN Advisors represent clients in office, multifamily, retail, industrial, self-storage, hospitality, marina, mobile home park and land transactions. All SVN offices are independently owned and operated. For more information on SVN Florida, visit www.svnflorida.com. For the latest news, trends and issues related to the commercial real estate market, visit SVN Florida's blog http://svnflorida.com/real-estate-blog.
Ashley Barrett Bloom LLC, National Land Product Council Chairman, SVN Florida Commercial Real Estate
Zeszutko Corp.-PR on behalf of SVN Florida