The Commercial Quarterly
CCIM, MBA, Commercial Agent
Setting the gold standard in commercial real estate for over 14 years, Susan Goldstein has facilitated transactions for countless individuals, national corporations, local businesses and developers across Sarasota and Manatee counties totaling over $80 million. She has repeatedly earned the position of Michael Saunders & Company’s Top Producing Commercial Agent. Experience and market knowledge allow her to guide clients to make informed and profitable decisions. An MBA from Columbia University, strong marketing experience with companies such as American Express and Proctor & Gamble, along with the CCIM Designation, the highest level of Commercial Professional educational achievement, insure her clients the most professional and profitable real estate transaction.
This 8,351 +/- SF building was recently by DAC Realty purchased from Center for Faith and Freedom to house offices for Belkin Moving and related businesses for $1,675,000. To make that happen, Susan continuously marketed the property to potential business owners while working to optimize building functionality for the buyer. She also negotiated deal points to meet buyer and seller objective and orchestrated due diligence and contingency requirements to get the deal closed.
State of the Market
The tri-county area commercial market posted strong fundamentals through the first half of 2019 for all property types. Looking back at the quarter, one of the largest commercial sales in the market involved a downtown Sarasota multi-family property. Bluerock Real Estate acquired The Desota, a 10-story luxury apartment building built in 2017, for $80.3 million. The building consists of 180 residences plus 15,350 square feet of ground-floor commercial space, which was designed to appeal to downtown Sarasota’s discerning and affluent residents. Another notable transaction during the quarter was the sale of Bradenton Financial Center in Downtown Bradenton for $14.95 million. The 116,839 SF office building was 90% occupied at the time of sale with a reported cap rate of 7.75%. As we move into the second half of 2019, the continued expansion of the area driven by the steady population growth will see an influx of new hotels, retail stores and condominiums materialize. Read more for the latest in the region’s commercial real estate market.
7357 Merchant Ct, Lakewood Ranch
Manatee, Sarasota & Charlotte Counties
Michael Saunders & Company | Commercial Division | 100 S. Washington Blvd. | Sarasota, Florida | 941.957.3730 | msccommercial.com