SARASOTA, Fla. (Feb. 2, 2022) – A private partnership local to Sarasota has purchased a 46,000-square-foot Class-A office building in Fort Myers for $9.4 million. The property, located at 12140 Carissa Commerce Court, was 97% leased at the time of sale.
Nick DeVito II, SIOR, and Brie Tulp, RPA, of Ian Black Real Estate represented the buyers, CheapChard, LLC and Bling Bling LLC. Randal Mercer of CRE Consultants represented the seller, Cypress Six Mile Partners, LLC.
“Our clients were looking to invest in commercial real estate in the Sarasota market,” said DeVito, partner at Ian Black Real Estate. “After looking in Sarasota, we opened our search to other areas of the state to take advantage of the higher yields. Currently, an abundance of wealth is moving into the Sarasota and Bradenton markets and driving down CAP rates to the lowest point in decades.”
The property is located centrally between Fort Myers and Naples, with convenient access to Interstate 75 and Southwest International Airport. It is certified by the Green Gloves Building Initiative and includes high-end finishes, a grand lobby entrance and classic architecture, with views of Six Mile Cypress Slough Preserve.
Tenants include Wells Fargo Advisors, CRE Consultants, Frank Jerkins Custom Homes, Case Pearlman, Becker and Priority Marketing. There is currently 1,465 square feet of space available for rent.
“The property is well-built, with extraordinary attention to detail,” said Tulp, sales associate at Ian Black Real Estate. “There are not many Class-A buildings on the market, and when you find one that you can purchase for below replacement cost with a steady income stream, it’s certainly an opportunity any investor would jump on.”
Randal Mercer of CRE Consultants will handle leasing for this property.
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.
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