SARASOTA, Fla. (April 19, 2018) – W Rentals LLC, a local investor has purchased a 14,720-square-foot industrial property at 6216 28th Street in Bradenton for $1.3 million. The property, which sits on 1.3 acres, has two buildings totaling 4,800 square feet and 9,920 square feet.
Michele Fuller, Matt Kezar and Stacy Rosenburg of Ian Black Real Estate represented both parties in the transaction. The seller was The Walters Family Partnership.
“Given the current strength of the industrial market in the Sarasota-Bradenton area, this was the perfect time to sell this property,” said Fuller, partner at Ian Black Real Estate. “The property also presented a strong investment opportunity for the buyer, with long-term leases in place for the existing tenants.”
Prior to the sale, the Ian Black team worked with the owner to revise and update the leases to current market rates. Tenants, including Goodyear Rubber Products and American Torch Tip, signed new five-year leases.
“Ensuring the long-term earning potential of this property helped us to better position it for sale,” said Fuller. “As a result, we received multiple offers and were able to secure a desirable sale price for the seller. It also created a great opportunity for the buyer, who will begin earning on their investment on day one.”
The Walters Family Partnership has also listed two other industrial properties for sale from their portfolio. These include a 21,580-square-foot office building located at 6003 Honore Avenue in Sarasota. The two-story office building, built in 2004, is fully occupied with five tenants in place. The other property is a 4,690-square-foot industrial warehouse located at 6002 31st St E in Bradenton.
“All three properties are investment-grade with strong upward potential,” said Kezar, broker associate at Ian Black Real Estate. “These are a hot commodity, as investors – with or without money from 1031 Exchanges – are looking for income producing properties.”
For more information on these properties, contact Michele Fuller at (941) 228-4189 or Matt Kezar at (941) 720-1973.
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.