News Column

Tallevast industrial building sells for $1.4M

June 20, 2014

By Charles Schelle, The Bradenton Herald

June 20--TALLEVAST -- A Fort Lauderdale company has purchased a Tallevast building for $1.4 million.

Ibanez Property Investments 2 LLC purchased a warehouse flex space building at 1144 Tallevast Road from PNC Bank and RBC Bank, according to property records. The sale closed June 9.

Ibanez is registered to Carlos and Gaston Ibanez of Fort Lauderdale, according to business filings.

The building is home to dÉcor company Lucuma Designs and several medical and industrial supply tenants.

The 38,700-square-foot building is in the University Park of Commerce subdivision, and RBC acquired the building in foreclosure after the previous owner DTC Enterprises Tallevast owed the bank $3.1 million. DTC acquired the 2.9 acres for the building in 1998 for $254,600, according to property records.

The Tallevast area is seeing an uptick of reinvestment. Rock Creek Pharmaceuticals is leasing space at the Roskamp Institute as part of a company relocation, real estate firm Cannabis-Rx is rehabilitating former Genmar and Wellcraft buildings, Star2Star Communuications is adding 350 jobs and growing its footprint while Medallion Home relocated its headquarters this year to the former Wellcraft office space.

Charles Schelle, Herald business reporter, can be reached at 941-745-7095. Follow him on Twitter@ImYourChuck.


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Source: Bradenton Herald (FL)

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