An out-of-state investor has purchased Oak Park Business Center in Sarasota for $3.52 million. The multi-tenant, seven-building flex/office property is located at 1748 Independence Boulevard.
Steve Horn, CCIM was part of the team at Ian Black Real Estate that represented the seller, Oak Park Partners, LTD, in the transaction. Derek J Hotchkiss of Woodbridge Realty Advisors, LLC, represented the buyer, 1748 Independence Boulevard, LLC, out of Connecticut.
“This is a well-located business park with a strong rental history,” said Ian Black, CCIM founder and partner of Ian Black Real Estate. “The sellers have owned it since 1989, and it’s always been a good income-producing piece of real estate.”
Oak Park Business Center has a campus-like setting on 5.07 acres, with seven buildings totaling 54,395 square feet and 36 individual units. It’s located 2 miles north of downtown Sarasota and convenient to both Sarasota and Manatee Counties. The property was at nearly 95% occupancy at the time of the sale.
“With the buyer from Connecticut and a lot of interest coming from outside the state, this sale demonstrates that the appetite for good income-producing properties in our area from out-of-town investors is quite healthy,” said Black.
As one of Ian Black Real Estate’s leading sales associate, Steve Horn, CCIM is extremely active in all aspects of the commercial real estate industry. Horn works with some of the largest Landlords in the area as well as representing local and national tenants and buyers. In addition to leasing, Steve has sold a number of large shopping centers and medical / traditional office properties in Southwest Florida and in 2011, Steve Horn sold MOBI in Lakewood Ranch, Florida (a 58,000+/- SF medical office building) which was one of the largest sales in the area in recent history.
Steve received a BS in Finance from Mercer University. Shortly thereafter, Steve joined Morgan Stanley where he worked for three years as a wealth management consultant. Stephen then joined the sustainable land development division of Bowie Urban Planners in Sarasota where he focused on providing development packaging services for clients all over the state of Florida. In 2004, Steve joined Ian Black Real Estate. In 2008, Steve obtained his CCIM certification given by the Certified Commercial Investment Member Institute and is an active member of the Florida CCIM Chapter’s West Coast District.
When he’s not doing deals, Steve enjoys spending time with his wife, Beth and two sons, Jack and Charlie.