• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar

Tampa Bay News Wire

All news... no paywalls

  • Submit a Release
  • Contact Us
You are here: Home / Commercial Real Estate & Developers / Sale of Sarasota industrial investment building closes in 10 days for $1.79 million

Sale of Sarasota industrial investment building closes in 10 days for $1.79 million

September 25, 2018 by Post

Diamond Creek Holding Series 16 LLC, an out-of-state investor, purchased an industrial property at 8293 Consumer Court in Sarasota for $1.79 million. From offer to closing, the sale took an unusually short 10 days.

Ian Black, CCIM, Steve Horn, CCIM, and Melissa Harris of Ian Black Real Estate facilitated the transaction. The seller was 4OHIO LLP.

The 24,050-square-foot property on 2.31 acres in the Sarasota International Trade Center is 100 percent occupied by Interior Logic Group. With a long-term lease in place, an attractive capitalization rate of 8, limited landlord obligations and a prime location, the property sold in an all-cash transaction.

“The speed and ease with which this sale occurred was a rarity on our industry,” said Black, partner and founder of Ian Black Real Estate. “We had good particulars and a responsible seller and buyer who both had one goal in mind – to close the deal. When everyone is working toward that, things can go very smoothly.”

Black estimates it typically takes an average of 90-120 days from offer to close on an industrial property in the Sarasota-Manatee market.

“We had already done the due diligence after we took the listing, had clean environmental studies and we knew the market and priced it accordingly,” said Black. “Given those details and the others, all the stars aligned to make this transaction move quickly.”

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.

###

email
print

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)

Related

Filed Under: Commercial Real Estate & Developers

Primary Sidebar

Categories

51 Users Online
1 User Browsing This Page.
Users: 1 Bot

Connect with us

  • View madduxbusinessreport’s profile on Facebook
  • View tbnwire’s profile on Twitter

RSS feed


51 Users Online

© 2023 KnowHowe

 

Loading Comments...