BRADENTON, Fla. (October 17, 2023) – Senior Advisor Tony Veldkamp, CCIM, and Advisor Matt Fenske of SVN Commercial Advisory Group are pleased to announce the successful completion of a $3.25 million sale transaction involving a vacant 20,000+ square foot office building on 3.7 +/- Acres within Wildewood Professional Park in Bradenton, Florida.
Veldkamp and Fenske have been longtime representatives of the seller and landlord, Fullerton Bradenton Wildewood, LLC – having previously sold them the complex and secured tenants for various office spaces within the 12-building business park over the past two years. The relationship was called upon once again when the seller was looking to sell the 20,806 square foot office as a value-add investment opportunity.
The property had a long-term lease with VERISK, a nationally recognized, publicly traded tenant listed on the NASDAQ. However, the lease only had a few years remaining and Manatee County wanted the building for their own use. So the brokers simultaneously negotiated a lease termination with the tenant, as well as the purchase agreement with the County.
SVN advisors Veldkamp and Fenske worked with both the seller and the buyer in this transaction. The buyer, Manatee County, recognized the benefits of this strategic location for their operations, as well as the great investment opportunity to acquire this prime office building.