Sarasota Commercial Real Estate Sales

December 29, 2007

The Palmer Crossing retail center on Clark road just sold for $57,000,000.  It was the largest commercial sale in Southwest Florida since the Gateway Office Park near Fruitville Road and Interstate 75 sold for $55 million back in the summer of 2006.  The Gatway property sold for $224 per square foot. 

The Palmer Crossing property consists of 147,000 square feet of existing retail space and the 43,000 square feet to be built.  Currently the property is anchored by a Bealls department store and a Sweetbay Supermarket.  The land was previously in 1997 for $1.5 million.

 This high sales price is a strong indicator that Sarasota remains a very desirable local with very good outlook for continued growth.  The Palmer Crossing property has long-term land leases from prominent national companies on eight of the property’s 12 parcels.


One comment

  1. If you are selling an apartment building/complex of 200 units or more, we may be interested in buying.


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