Local investors break ground on $1.5 million retail flex development in Bradenton

By: Ian Black Real Estate
BRADENTON, Fla. - Aug. 29, 2022 - PRLog -- A group of local investors has broken ground on a $1.5 million, 10,000-square-foot retail flex development located at 620 67th Street Cir E in Bradenton. The property, which will sit on 1.4 acres of land off State Road 64 and the Interstate 75 interchange, will address a growing need for flex space in the market.

Matt Kezar of Ian Black Real Estate facilitated the land sale transaction. 620 Partners LLC purchased the parcel from an undisclosed seller for $360,000.

"Right now, we are seeing a high demand for this type of property, particularly with yard space, to serve local tenants such as plumbers and electricians," said Kezar, broker associate at Ian Black Real Estate. "Vacancy rates in the retail flex space are incredibly low and the available inventory is often older space that needs updating. The buyer recognized this need and hopes to address it with this new facility, which is centrally located in Manatee County."

The property, which the buyers will invest more than $1.5 million to construct, will feature 360-degree access, roll-up doors, yard space and ample parking. It will also include 1,000 square feet of office space. Tenants can customize the space to meet their needs, which makes it attractive for a variety of users, ranging from a daycare center to a lumber supplier.

"The buyer was interested in an income-producing property in a high-growth area with easy access to major transportation routes," said Kezar. "The central location of this property and close proximity to I-75 will allow tenants to pull traffic from Ellenton, Parrish, Lakewood Ranch and West Bradenton, and give them a new space to conduct business from in this fast-growing area."

The buyers broke ground on the property on August 5, and the event was attended by County Commissioner Reggie Bellamy. Construction is expected to be completed by the end of this year. Nick DeVito, SIOR, of Ian Black Real Estate will manage leasing for the property.

About Ian Black Real Estate

Ian Black Real Estate (IBRE) is a boutique commercial real estate brokerage firm located in Sarasota, Fla. The firm is one of the largest commercial brokerage firms in Southwest Florida and boasts a deep knowledge of the commercial real estate market in Sarasota and Manatee counties and the surrounding area. For more information, visit ian-black.com.

About SIOR

SIOR is the leading global professional office and industrial real estate organization that certifies commercial real estate service providers with the exclusive SIOR designation, based on achievement, knowledge, accountability and ethical standards. Only the industry's top professionals qualify for SIOR. Today, there are more than 3,200 members in 685 cities and 36 countries. For more information, visit www.sior.com
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Tags:Commercial Real Estate
Industry:Real Estate
Location:Bradenton - Florida - United States
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