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Florida & Gulf Coast  + Office  |  February 2, 2021
David Cohen
By: David Cohen

Tricera Capital Acquires Sarasota’s BB&T Financial Center for $35M

Miami-based real estate investment firm Tricera Capital has acquired BB&T Financial Center, a 9-story office building in downtown Sarasota. The sales price was $35 million.

Located at 1800 Second St., the 550,000-square-foot property includes 500 covered parking spaces and was originally developed in the 1980s. Over the past three years, the building has undergone more than $1 million in capital improvements, including upgrades to the roof, lobby and elevator systems. At the time of sale, the building was approximately 70% occupied. The tower is currently anchored by BB&T.

Tricera partnered with Alex Karakhanian and Merrimac Ventures on the acquisition. It plans to enhance the value of BB&T Financial Center through a variety of strategies. The transaction closed Jan. 28. The seller was not disclosed.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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