Retail development is in the works for properties along busy Sarasota corridors
Sarasota, Fla. (March 30, 2022) – Recently, SVN Commercial Advisory Group managed the purchase of two undeveloped commercial parcels in Sarasota, Fla. These properties consist of a pair of deals that total $5.2 million. Matt Fenske and Senior Advisor Tony Veldkamp, CCIM, coordinated the two purchases for their client Brightwork Real Estate. The transactions will lead to economic development along Fruitville Road and the University Parkway corridor.
The properties are a 0.82-acre parcel at 8490 N. Shade Ave. and a 1.3-acre parcel at 1836 and 1850 Fruitville Road.
“The buyer was especially interested in finding a location along University Parkway,” Fenske said of the property on N. Shade Avenue. “It can be a challenging corridor due to the main office and residential zoning on the south side of the road, which is in Sarasota County. However, we were able to find a site at a lighted intersection on the Manatee County side. This will allow retail development.”
Brightwork Real Estate is a Florida-based development and acquisition company that focuses on commercial properties throughout the Southeast. Both properties are slated for retail development. The company’s portfolio includes Chase Bank, Wawa, Starbucks, Florida Blue, ALDI, and many other retail businesses.
Matt Fenske went on to say, “This stretch of University Parkway should be a prime location. It sits only minutes away from University Town Center and Lakewood Ranch”. “The area has seen a significant number of new apartments and is prime for more retail and commercial development.
The $4 million Fruitville Road property is part of the downtown’s heavily trafficked core. This is an area where available real estate can be scarce. Most prime sites there are developed as luxury townhomes or condominium towers.
“These kinds of developments are an important part of keeping the retail sector vibrant in this community. It also adds services for the growing residential population. We’re happy to be a part of that.”
About SVN Commercial Advisory Group
SVN Commercial Advisory Group is a full-service commercial real estate brokerage firm. We provide commercial real estate services to large corporations, middle market businesses and individual entrepreneurial investors. Serving the greater Tampa Bay area, we offer advisory services for selling, leasing, and managing commercial properties locally, regionally and nationally. We promote properties and share fees to build connections and create wealth together. Our focus on moving the commercial real estate industry forward has attracted a strong and powerful team of real estate professionals. Together, we have grown the SVN® brand into a globally recognized establishment that continues to grow and prosper.
We’ve expanded our ideology to include a Shared Value Network® approach across all our service lines, offices, and communities. We create greater value through openness, inclusivity and innovation together with our clients, colleagues, and communities,
The Advisors at SVN Commercial Advisory Group have a deep understanding and vast experience with a wide variety of aspects of all investment real estate. Our specialized teams can provide competent guidance to you, your clients or your investors. We have brokered, consulted, managed and provided various real estate services across the country.
Matt Fenske, Advisor, SVN Commercial Advisory Group, 941-487-3794 / firstname.lastname@example.org
Tony Veldkamp, CCIM, Senior Advisor SVN Commercial Advisory Group, 941-487-6990 / email@example.com