The International Union of Police Association (I.U.P.A.) – a North American trade union that represents law enforcement and related support personnel nationally – has purchased an office building located in the RidgeGate Center at 5632 Bee Ridge Road in Sarasota for its new headquarters. The 17,401-square-foot property sold for $2.6 million.
Ian Black, CCIM, Steve Horn, CCIM, and Melissa Harris of Ian Black Real Estate had the listing on the property and represented seller Churt Properties in the transaction.
I.U.P.A., which currently leases approximately 10,000 square feet of space in the PNC Bank building in downtown Sarasota, will occupy the top floor when the organization relocates to RidgeGate Center and will continue to lease the ground floor office suites.
“We wanted to go from leasing to owning, to have that tangible asset,” said Dennis Slocumb, Public Information Officer and Legislative Director for I.U.P.A. “The president and his staff looked at a number of locations, and this fit the bill as far as location, parking, access to restaurants and accessibility for its staff to decrease their commute time, as it’s a little easier to get to than the office downtown. We have a lot of members fly in to Tampa when they come to town for meetings and conferences.”
RidgeGate Center is a five minutes’ drive west of the Interstate 75/Bee Ridge Road interchange.
“This is a well-maintained building that saw a lot of interest,” said Ian Black, partner and founder of Ian Black Real Estate. “I.U.P.A. was initially considering building a new office, but when looking at the cost of construction versus buying, this made more sense. At about $150 per square foot, this property was acquired below replacement costs.”
I.U.P.A. has been headquartered in Sarasota since 2005.
“We’ve found Sarasota a very desirable location for our headquarters,” said I.U.P.A. International President Sam A. Cabral. “Our members are all over the country, and when they travel here for events, they and their families have plenty to do. It’s a great destination city and also a very safe community. In addition, the cost savings for the organization was factored into our decision to remain and purchase in the area.”
I.U.P.A. will make interior renovations to suit its needs, such as the additional building out of office spaces, a kitchen for staff, an all-glass conference room and a reception area. The organization anticipates moving into RidgeGate Center in 2019.
The Bank of Labor helped finance the purchase, for an undisclosed amount.
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.
About International Union of Police Associations (I.U.P.A.)
The International Union of Police Associations is the only AFL-CIO chartered labor union that exclusively represents law enforcement officers and other support personnel. More than 100,000 law enforcement personnel (one out of every four eligible) represented by the I.U.P.A. are full-time employees of law enforcement agencies ranging from line officers up to first-line supervisors, as well as civilian employees. The I.U.P.A.’s mission is to protect and advance officers’ wages, benefits, and work conditions. More information is available at www.iupa.org.