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JV Acquires Two Sarasota Retail Properties for $16M
A joint venture between Limestone Asset Management and Orion Real Estate Group has acquired two retail properties at St. Armands Circle in Sarasota. The sales price was $15.5 million.
The properties are located at 362 St. Armands Circle and 371 St. Armands Circle. The property at 362 St. Armands Circle is currently occupied by three long-term tenants: French pastry shop and sidewalk café Le Macaron, clothing retailer Breezin’ Up and women’s clothing, jewelry and accessories shop Sahara. Men’s and women’s apparel retailer Tommy Bahama currently occupies 371 St. Armands Circle.
Mark Drazek and Ray Romano of CBRE’s Net Lease Property Group represented the undisclosed seller in the transaction. State chartered commercial bank Ocean Bank provided acquisition financing.
For comments, questions or concerns, please contact David Cohen
- ◦Sale/Acquisition
