Bradenton, Fla. (January 6, 2022) – Advisor, Matt Fenske, and Senior Advisor, Tony Veldkamp, CCIM of SVN Commercial Advisory Group recently coordinated the purchase of a 5,104 retail building at 6581 SR-70 E in Bradenton, FLA. SRQIM, LLC was the seller. JMLE, LLC was the buyer. Matt and Tony represented the buyer, while Steve Horn and Melissa Harris with Ian Black Real Estate represented the seller. Purchase price was 2,050,000.
“We had been searching for a newer multi-tenant retail plaza for our client since July of last year. When we saw this listing come to market in October, we sent it to our client who immediately submitted a cash offer very close to the asking price.” Said Fenske, concerning the sale. “The market is very competitive right now for attractive multi-tenant investment properties with the amount of capital coming into Florida and the scarcity of inventory.”
The retail building, built in 2018, currently holds two restaurant tenants, BubbaQue’s BBQ, and Shipley Do-Nuts, both of whom are on long-term leases. The new owner plans to use the asset as an investment.