Sarasota Company Finalizes $35 Million in Sales for Properties in Venice and Lakewood Ranch

Fort Myers

Giant boat dealer expands with new facility

MarineMax, a leading boat retailer and marina operator from Pinellas County, has unveiled its latest facility in Fort Myers at 14030 McGregor Blvd. Spanning 23 acres of waterfront, this new yacht sales and service center features 276 rack storage spaces, 128 wet slips, and a 75-ton lifting capacity, all housed within a facility that exceeds 30,000 square feet. MarineMax President and CEO Brett McGill stated this expansion “significantly enhances our capabilities.” Established in Clearwater and now based in Oldsmar, MarineMax operates over 120 locations globally, including more than 70 dealerships and 65 marina and storage facilities. However, the company reported a 13.3% decline in revenue to $657.2 million for the three months ending June 30, in comparison to the previous year, with same-store sales down 9% for the quarter.

Southwest Florida

Firm takes over management of several communities

Miami’s KW Property Management & Consulting has expanded its portfolio by managing several new properties, including three located in Southwest Florida. This new portfolio addition brings an additional 6,000 units under management, which includes the Grand Palm Master Association in Venice with 1,734 units, the Esplanade at Hacienda Lakes in Naples with 500 units, and the Gulfview Club on Marco Island, which consists of 256 units. KWPMC’s clients encompass high-rises, homeowner associations, and garden-style townhouses, offering services such as accounting, maintenance, and customer service. The firm currently manages over 100,000 units and employs over 2,900 personnel.

Tampa

Industrial property sold to Texas investor

Transwestern Investment Group, based in Dallas, has acquired Mango I-4 Logistics located at 6337 Mango Road from Boston’s Realty Associates Fund XII Portfolio. Although the sales price was not disclosed, records indicate Realty Associates purchased the property for $30 million in 2021. The facility spans 302,940 square feet and features 36-foot clear heights and advanced sprinkler systems. Transwestern emphasizes that Tampa’s industrial sector leads the state in year-over-year occupancy growth, while asking rents have surged by 86% over the last five years.

Manatee County

Sale of administrative building closes

Manatee County has finalized its acquisition of a Lakewood Ranch office building for administrative use, closing the $23.5 million deal for the 101,000-square-foot property on September 2. Previously owned by a joint venture between MHCommercial Real Estate Fund and Contrarian Capital Management, the office building covers 11.28 acres at 9000 Town Center Parkway. Following the acquisition, county departments will transfer from the downtown Bradenton building to this new location, although the current building remains unchanged. The sale was facilitated by Ian Black Real Estate’s Jag Grewal and Cameron Wilson.

Venice

City buys former car dealership space

The city of Venice has officially purchased the previous Douglas Jeep dealership for $11.8 million, intending to relocate its solid waste, recycling, and fleet maintenance operations to this new site. The property includes 4.7 acres and a 37,000-square-foot building. The city plans to invest an additional $1 million in renovations, which will improve the perimeter security, add new fuel tanks, and equip more restroom facilities. This purchase was handled by Ian Black Real Estate, with a focus on providing a more cost-effective solution compared to constructing a new building. The transaction closed on September 3.

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