A two-building flex property featuring 28,000 square feet of office and industrial space at 8240 and 8250 Vicela Dr. in Sarasota is fully leased only eight weeks after delivery to the market.
Ten tenants have leased the twelve units at the property. Mickey’s Pet Supplies, which is relocating from the east coast of Florida, recently signed the last lease, taking 2,400 square feet.
Nick DeVito II, SIOR, and Brie Tulp, RPA, of Ian Black Real Estate represented the landlord, M&W Investments, in the lease transactions.
“This is the perfect example of an issue we’re dealing with in Sarasota-Manatee right now – there are a lot of tenants looking for smaller industrial spaces, but there’s virtually no inventory,” said DeVito, partner at Ian Black Real Estate.
Tenants at 8240 and 8250 Vicela Dr. represent national and regional organizations, including technology company Motorola Solutions, wheelchair and mobility equipment company Numotion, structural engineering firm 4-F Structural Concrete and Masonry, concrete finisher Paradigm, Blue Ocean Mechanical Services, Home Staging by Alexandra and others.
“The Covid-19 pandemic is driving some of this activity for smaller industrial users,” said Tulp, sales associate at Ian Black Real Estate. “Some of these businesses are relocating here from out of state or from other areas of the state. And with the rise in residential development in this area, service industries have an increased need for space here.”
Landlord M&W Investments, a local private investor group, purchased land for the flex/industrial development at 8240 and 8250 Vicela Dr. in 2017. Construction was completed in late October.
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 Society of Industrial and Office REALTORS® (SIOR)
SIOR is the leading global professional office and industrial real estate organization that certifies commercial real estate service providers with the exclusive SIOR designation, based on achievement, knowledge, accountability and ethical standards. Only the industry’s top professionals qualify for SIOR. Today, there are more than 3,200 members in 685 cities and 36 countries. For more information, visit www.sior.com.