SARASOTA, Fla. (Feb. 8, 2018) – Mercedes Medical, a locally owned medical supply company, has broken ground on its 60,000-square-foot corporate headquarters in the CORE project in Lakewood Ranch. The company purchased a 5-acre parcel located on Rangeland Parkway and Lakewood Ranch Blvd. for $900,000 and will begin construction immediately.
Michele Fuller of Ian Black Real Estate represented Mercedes Medical in the purchase. SMR North 70 LLC was the seller.
“The CORE project is an exciting development for our community,” said Fuller, partner at Ian Black Real Estate. “The campus-like environment and research-oriented park was a good fit for Mercedes Medical’s new corporate headquarters.
CORE, which stands for Collaboration Opportunities for Research and Exploration, is a 305-acre biotech industrial district in Lakewood Ranch. Once completed, it will bring 4.2 million square feet of commercial space to the master-planned community. In addition to office space, developers have planned for retail and restaurants, walking and bike trails, and outdoor activity zones meant to encourage interaction and collaboration between organizations.
Mercedes Medical currently operates out of three buildings in Commerce Park in Sarasota. They recently sold two of the properties to the Asolo Repertory Theater, and are leasing the third. The 19,425-square-foot Commerce Ct. property sold for $1,695,000, while the 4,815-square-foot Tallevast Rd. property sold for $426,500. Fuller represented Mercedes Medical in the sale.
The move will allow Mercedes Medical to expand operations and bring everything under one roof, including warehouse, distribution and corporate offices. Meanwhile, during construction of the new facility, Mercedes Medical will lease back the properties from the Asolo.
“Overall, we’re seeing more and more companies look to Sarasota and Manatee Counties for new locations along with relocating their corporate headquarters,” said Fuller. “Our market has historically been a tertiary market, but we’re growing fast and companies are taking notice. We offer a high quality of life along with all the amenities of a fast-growing communities.”
Mercedes Medical is expected to complete construction in Spring 2019.
About Ian Black Real Estate
Ian Black Real Estate (IBRE) is a boutique commercial real estate brokerage firm located in Sarasota, Fla. The firm is one of the largest commercial brokerage firms in Southwest Florida and boasts a deep knowledge of the commercial real estate market in Sarasota and Manatee counties and the surrounding area. For more information, visit ian-black.com.