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Regatta Village fetches $5.25 million

Regatta Village fetches $5.25 million | Herald Tribune, March 1, 2018

SVN Commercial Advisory Group coordinates 5.25-million-dollar sale of Regatta Village in Sarasota | SVN Florida, March 8, 2018

Investment Property Sold

SARASOTA — A retail/office complex whose tenants include Argosy University has sold for $5.25 million.

Regatta Village, at the southwest corner of 17th Street and Honore Avenue, was acquired this week by LV17 LLC, a company managed by Christopher M. Leedom of Sarasota.

The neighborhood center is a mix of educational, medical, office and retail tenants. The sale included land on the west side that is available for additional development, said Tony Veldkamp, senior adviser with SVN Commercial Advisory Group who represented the seller.

“The sellers are an investment firm out of Toronto that I work exclusively with,” Veldkamp said. “We turned this center around in three years and are actively looking for the next large turn-around opportunity throughout Southwest Florida.”

The seller was an affiliate of Fullerton Properties Inc., headed by David N. Kozman.

In addition to anchor Argosy, other tenants in the 45,603-square-foot center include Sterling Realty, Cornerstone Church and Bay Road Animal Hospital.

Regatta Village, built in 1986, was listed last year for $5.45 million.

Lee DeLieto Jr. of Michael Saunders Commercial represented the buyer.