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Business Observer Tuesday, Apr. 5, 2022 4 months ago

Lakewood Ranch condo office park sells to investment group

The nearly 16,000-square foot property brings $3.5 million.
by: Louis Llovio Commercial Real Estate Editor

A nearly 16,000-square-foot office park in Lakewood Ranch has sold.

The three-building park, at 9015 Town Center Parkway, brought $3.5 million. The buyer was an investment group that includes Harvey Sheldon, who owns 12 office properties in Florida and Colorado.

The 15,886-square-foot office park, fully leased at the time of sale, was built in 2003 and includes 81 parking spaces and office spaces. The three buildings are connected by breezeways.

The park is considered a condo office park — an office building with two or more individually owned units.

Amy MacDougall, of Ian Black Real Estate in Sarasota, brokered the deal for the seller and is the leasing manager at the property, a role she’ll keep under the new owners.

She says in an email that when it was first built “the owners divided the buildings into 12 office condos, in case they were to ever want to sell off separate offices, and created an association to care for the common areas and the property overall.”

“There has always been one ownership entity of these particular condos. However, the option to sell off individual condos still exists.”

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