Tenant decides to buy property, 130,000 square-foot building
SARASOTA, Fla. (October 11, 2018) – J. Chris Malkin, a senior advisor with SVN Florida, recently coordinated the $6 million sale of a property in Sarasota, Florida. The 5.65-acre property at 5252 South Tamiami Trail is zoned commercial and includes a130,000 square-foot building.
“It’s right on U.S. Highway 41, between the two bridges,” Malkin said. “That stretch is the prime, premiere retail corridor for Sarasota.”
The building has a 60-year history. It was the showroom and warehouse for the popular Kalin’s furniture store that eventually retired its operations there. After the store closed, Malkin found another retail furniture business to occupy the building as a tenant.
The facility has a mezzanine surrounding the showroom, adding to the square footage.
The tenant company, Furniture Warehouse, signed a one-year lease but soon realized the property was an optimal location for their retail outlet and made the decision to buy it. “Once they saw the building had value and realized the kind of bones it had, they wanted it,” Malkin said.
There are five other Furniture Warehouse showrooms in Sarasota Bradenton Florida, along with a corporate headquarters/pickup location.
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 SVN difference. SVN Florida provides services in more locations than any other Florida commercial real estate company.
SVN, a commercial real estate brokerage firm headquartered in Boston, is one of the industry’s most recognized and powerful brands based on the annual Lipsey Top Brand Survey and Commercial Property Executive Magazine. With more than 190 locations in 500 markets, SVN Commercial Real Estate Advisors provide sales, leasing and property management services to more than 5,550 clients worldwide. The Florida team consists of more than 100 advisors serving locations across the state.