Manatee County Finalizes Purchase of $23.5 Million Office Building

Manatee County has successfully acquired a new office building in Lakewood Ranch intended for administrative operations.

This significant purchase totals $23.5 million for a spacious 101,000-square-foot facility, which finalized on September 2.

Located on an expansive 11.28-acre site at 9000 Town Center Parkway, the two-story office building is conveniently situated off University Parkway. Previously, it was owned by a joint venture of MHCommercial Real Estate Fund, based in West Palm Beach, and Contrarian Capital Management, a Connecticut investment firm.

Records indicate that the joint venture initially acquired the building for $20.25 million back in 2021.

In May, the Manatee County commissioners endorsed the purchase unanimously. As reported by the East County Observer, the current county building in downtown Bradenton will remain in operation, given its designation as the “county seat” as per the Florida Constitution—where principal offices and permanent records of county officials are maintained.

The county commission sessions will continue to occur in the Honorable Patricia M. Glass Chambers within the existing building, while offices such as Development Services will transition to the new location, according to the report.

Currently, there is a tenant in the building until January, prompting a phased move-in process for Manatee County to ensure a smooth transition without disrupting the existing occupant.

The transaction was facilitated by Ian Black Real Estate, specifically brokers Jag Grewal and Cameron Wilson.

Key Information

• Purchase Price: $23.5 million
• Building Size: 101,000 square feet
• Location: 9000 Town Center Parkway, Lakewood Ranch
• Completion Date: September 2
• Previous Owners: Joint venture of MHCommercial Real Estate Fund and Contrarian Capital Management
• Initial Purchase Price by Previous Owners: $20.25 million in 2021
• Future Use: Administrative offices, with phased move-in planned
• Current Occupant: Tenant until January
• Brokerage Firm: Ian Black Real Estate