SVN Commercial Advisory Group represents buyers in two locations around US-301; one planned as site of 194-unit community
Parrish, Fla. (April 8, 2024) – SVN Commercial Advisory Group has announced the successful $4.7 million closures of multiple commercial property sales in the North River area of Manatee County, Fla. The transactions all closed in March and involved two sites strategically located on or near US-301.
Tony Veldkamp and Matt Fenske of SVN Commercial Advisory Group represented the buyers for all the sales, which highlight the burgeoning growth of that real estate market in recent years.
The property at 4760 Harrison Ranch Blvd. sold for $1.1 million to BH Storage Parrish, LLC. Plans are in the works for the construction of a climate-controlled self-storage facility on the newly purchased site. The three-story building will contain 100,000 square feet.
“We’re continuing to see high demand for sites for residential support services,” said Veldkamp, CCIM, Senior Advisor for the Sarasota-based firm. “This is an ideal spot for a self-storage facility, given all the ongoing residential growth in this area.”
The second deal involved three separate land sales to TM BTR of Florida LLC, totaling more than $3.6 million. Sold individually, these properties are situated at:
-
- 11601 US 301 N
- 5110 Oxford Road
- 4920 Oxford Road
The buyer of all three is an affiliate of Taylor Morrison, a national homebuilder that will use the property to develop a 194-unit community on roughly 25 acres. These so-called “Yardly” homes are build-to-rent cottage-style dwellings with backyard space.
“This project signifies diversification of the residential development going on in the North River region,” said Fenske, Senior Advisor with SVN Commercial Advisory Group. “It continues to be a high-growth market that now has enough population density to warrant new multifamily rental communities. These will accompany the many single-family communities that are both existing and under development.”
Matt Fenske and Tony Veldkamp’s track record in the North River market is noteworthy. They have sold 10 sites there since 2020, amounting to nearly $20 million. Additionally, they have seven sites currently under contract, signaling continued market activity and developer confidence in the region.
With these recent transactions, the North River area of Manatee County continues to solidify its position as a prime destination for commercial real estate investments.