Schanz Business Park LLC, an entity related to manufacturer Alutech United Inc., has purchased a 70,000-square-foot warehouse-style building in Sarasota for $4 million. Alutech United, which has doubled its annual revenue in the past year, relocated its Florida location from Northgate Business Park in Sarasota to its new facility at 6620 19th St. East in late March.
Jag Grewal, CCIM, represented the buyer in the transaction. Ben Bakker of MSC Commercial represented the seller, Central Park of Commerce LLC.
Alutech United is a leading manufacturer of roll shutters and roll screens. Both its headquarters in Shelbyville, Del., and new facility in Sarasota include inventory and manufacturing floors, as well as efficient and cost-effective equipment for production and shipping.
“We literally ran out of space at our previous location in Sarasota,” said Joe Schanz, CEO of Alutech United. “We needed 20,000 square feet, and this property in Manatee County fit our size parameters and budget, as well as location preferences.”
Known as Central Park of Commerce, the property offers convenient access to U.S. 41, U.S. 301 and University Parkway. Alutech United will occupy 20,000 square feet of the property, while several long-standing tenants occupy the other 50,000 square feet.
“The buyer was initially looking to buy a freestanding 20,000-square-foot building, but industrial inventory in Sarasota-Manatee is incredibly tight right now,” said Grewal, broker and partner at Ian Black Real Estate. “With virtually no industrial property available, purchasing a larger building with solid tenants was a good solution for this fast-growing manufacturer.”
“Jag was great to work with,” Schanz said. “The search for our property was not easy. He worked patiently with us in this difficult market and was able to see an opportunity where we didn’t. His detailed presentations helped us tremendously in finding an excellent fit for Alutech.”
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.