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Retail development in the works for properties along busy Sarasota corridors

Sarasota, Fla. (March 30, 2022)SVN Commercial Advisory Group recently managed the purchase of two undeveloped commercial parcels in Sarasota, Fla., a pair of deals that total $5.2 million. The transactions will lead to economic development along Fruitville Road and the University Parkway corridor.

Coordinating the two purchases for client Brightwork Real Estate were Advisor Matt Fenske and Senior Advisor Tony Veldkamp, CCIM, both with SVN Commercial Advisory Group. 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 mainly office and residential zoning on the south side of the road, which is in Sarasota County. But we were able to find a site at a lighted intersection on the Manatee County side, which allows 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.

“This stretch of University Parkway should be a prime location, only minutes away from University Town Center and Lakewood Ranch,” Fenske said. “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, 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 and adding services for the growing residential population,” Fenske said. “We’re happy to be a part of that.”
About SVN Commercial Advisory Group

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 Tampa Bay in addition to Sarasota, Manatee, and Charlotte counties. For more information on the SVN Commercial Advisory Group, visit suncoastsvn.com.

Contacts

Matt Fenske, Advisor, SVN Commercial Advisory Group, 941-487-3794 / matt.fenske@svn.com

Tony Veldkamp, CCIM, Senior Advisor SVN Commercial Advisory Group, 941-487-6990 / tony.veldkamp@svn.com