U.S. Highway 301 property is future site of retail development
Parrish, Fla. (March 14, 2023) – Advisors from SVN Commercial Advisory Group have managed the $4.09 million sale of a retail development site in Parrish, Fla. The 13.4 acres of mixed-use land are at 12055 U.S. Highway 301, on the corner of the four-lane highway and Fort Hamer Road.
Tony Veldkamp, CCIM, Senior Advisor, and Matt Fenske, Advisor, represented both the buyer and seller in the transaction. The land is in East Manatee County near a cluster of residential neighborhoods to the south.
Keith and Kathy Marsh were the sellers of the property, which is the site of their former homestead.
“When the county built the new bridge, they had to reroute Fort Hamer Road through the Marshes’ property,” Veldkamp said. “That road is now being extended northward, all the way to the county line, becoming the new Parrish Bypass. It puts this site on a major thoroughfare full of growth potential.”
The buyer, CASTO Development, is planning a retail project on the property.
“This sale and others like it should help round out the much-needed retail offerings and other services to the Parrish residents,” Fenske said.
The North River market that includes this property has been a thriving hub of recent commercial real estate activity. Fenske said that he and Veldkamp have managed transactions approaching $30 million during the past six years, with another $18 million currently listed or under contract.
“We’ve seen some explosive growth here, thanks in large part to the Lakewood Ranch community and Moccasin Wallow,” Fenske said. “Also, this area is home to the future State College of Florida’s Parrish campus, among a number of other new schools and two proposed hospital campuses. It’s a region on the move – lots of activity here.”
A full-service commercial real estate brokerage firm, SVN Commercial Advisory Group works with large corporations, middle market businesses and individual entrepreneurial investors. The group provides advisory services for the sale, leasing and management of commercial properties. Advisors at SVN Commercial Advisory Group have deep experience working with many types of investment real estate. They serve the greater areas of Sarasota, Manatee and Charlotte counties. For more information on the SVN Commercial Advisory Group, visit suncoastsvn.com.