SARASOTA, Fla. (September 14, 2023) – Senior Investment Advisor Mike Migone, CCIM, and Senior Advisor Jim Boyd, MAI of SVN Commercial Advisory Group recently concluded the $7 million sale of an industrial warehouse portfolio in Venice, FL. The three property portfolio consists of 84,000 SF and is located just off the island of Venice in the city’s industrial district at 249 Seaboard Avenue, 249 Warfield Avenue, and 320 Warfield Avenue.
Migone and Boyd represented the seller of this investment portfolio, assisting in the negotiation of multiple competitive offers that resulted in a successful deal with the buyer, F&H Properties Sarasota, LLC.
The portfolio offers a strategic and highly sought-after value-add investment opportunity. As home to more than 100 small businesses, the portfolio boasts a cash-flowing, diverse tenant base spanning various industries including manufacturing, automotive, construction, and more. The property has consistently attracted and retained businesses in the Venice area for many years, solidifying its value in the market as a reliable investment.
“The Seaboard industrial district is vital to the Venice community,” said Migone. “As one of the few industrial districts in the city, hundreds of local business owners rely on these properties for their livelihood and success, making for a consistent hub of economic activity that is important to maintain.”
SVN is the only commercial real estate company that markets all of its properties to the entire brokerage and investment community. SVN advisors share commission fees with cooperating brokers to close more deals in less time and at the right value for clients. This open, transparent and collaborative approach to real estate is the formula to many successful deals like this one.
Senior Investment Advisor