Property Listing No Longer Available for Sale

Lakewood Ranch Corporate Park

Sarasota, FL

Office for Sale - $5,400,000 - 21,000 Sq. Ft. on 24 acres


Property Info

CIMLS#431662
Location
  Lakewood Ranch Corporate Park
  Sarasota FL 34240
UpdatedMarch 29th, 2012
TypeOffice
Price$5,400,000
Building21,000 Sq. Ft.
Land24 acres

Property Description

This is a four year old, single tenant, office building located in a modern corporate park in Sarasota, Florida, just off Interstate-75. The building was constructed by the tenant company. The building is a traditional office building, but has greatly enhanced structural components which make it highly energy efficient and able to withstand severe weather. There is a whole-building generator to enable continual operations even during a power outage. The data center occupies 1,000 SF. The remaining 20,000 SF is typical office with about half open space for cubicles, and half closed office space for professional offices, conference rooms, and bathrooms.


Financials

Strong NNN lease, guaranteed by $70M medical-technology company. The subject property is headquarters for the company's technology operations, and houses sensitive medical and financial data for 50,000 physicians. There is 7.5 years remaining on a ten year lease. There are two 5-year options. The outlook for renewal is excellent.