TAMPA, FL (March 4, 2020) – Nancy Surak of Land Advisors Organization recently brokered the sale of a 20-acre multifamily site in Lutz, FL. Bainbridge Communities Acquisition III LLC purchased the land for $4,800,000 and plans to build a luxury, 268-unit, class A rental apartment community known as Bainbridge Sunlake. The site is part of the Sunlake MPUD and occupies the southeast intersection of State Road 54 and Mentmore Boulevard in Lutz, FL. Bainbridge expects to deliver units beginning summer 2021 featuring exceptional amenities including covered parking structures, a clubhouse, and swimming pool.
Bainbridge Sunlake is across from The Shoppes at Sunlake, a Publix grocery anchored center with several other in-line and outparcel users. Sunlake is located near newly constructed single-family home subdivisions and top-rated area schools including Sunlake High School, Charles S. Rushe Middle School, and Imagine Charter School.
Surak brokered the transaction and represented the seller, Sunlake Equity Joint Venture, along with Bill Eshenbaugh of Eshenbaugh Land Company. The buyer was represented by Michael M. Gfesser, PA of Keyes Commercial-IPRE Commercial.
“As Pasco County’s economy continues to attract new headquarters such as TouchPoint Medical, Encompass Health, and Mettler Toledo it’s important for new luxury rental housing to be developed. A variety of housing choices including multifamily and single-family units along with strong schools and local shopping is what makes a vibrate community work. This area of Pasco County is a great place to live and I’m thrilled to see leading companies like Bainbridge invest here,” said Surak.
Surak also sold a 24-acre site in Sunlake, summer 2018 for $4,758,500, to ContraVest Development Partners, who developed a luxury, 307-unit, class A rental apartment community known as The Addison at Sunlake.
For additional information on these transactions or to learn more about the land market, contact Nancy Surak at 813.448.1999 or by email at nsurak@landadvisors.com or you can connect with her on LinkedIn or Twitter.
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About Land Advisors Organization: Land Advisors Organization (LAO) specializes in innovative land brokerage through deep market insight and unparalleled client relationships. With an exclusive focus on land, LAO integrates current comprehensive information, cutting-edge technology and geographically specialized professionals to help our clients identify and capitalize on valuable opportunities in all kinds of economic environments.
Land Advisors Organization employs a true collaborative brokerage model with offices located throughout Arizona, California, Florida, Idaho, New Mexico, Nevada, Utah, Texas, North Carolina and Washington. To learn more about LAO visit us on our website at landadvisors.com and connect with us on Facebook, LinkedIn and Twitter.