LAKEWOOD RANCH -- The Manatee Association of Realtors became tenants recently when they sold their 16,488-square-foot office building at 10910 Technology Terrace in Lakewood Ranch to Gut Hut LLC for $975,000.
The Realtors plan to stay put for the time being, however, and the purchase will be an investment property for the business owned primarily by gastroenterologist Arun Khazanchi.
"The plan is actually for the association to stay there for a while and lease back. It's just a partnership that is going to lease back," said Debbie Anglin, broker associate with Ian Black Real Estate, who handled the deal for Gut Hut. "They have two buildings there. This is just building A."
The physician, who practices at Florida Digestive Disease Specialists, 11505 Palmbrush Trail, Ste. 200, Lakewood Ranch, financed the purchase with a $834,624 loan from SunTrust.
The Manatee Association of Realtors plans to be out of Building A within six months, according to president Deanna Atkinson of Coldwell Bankers.
The Lakewood Ranch facility opened in April 2008, after years of planning to be closer to the center of growth and development in Manatee County, according to Herald archives.
Prior to buying the site along Technology Terrace and Lakewood Ranch Boulevard, the Realtors association owned a parcel off State Road 64.
The 16,000-square-foot campus includes two separate buildings. One of the buildings houses the administrative offices, a technology training center, a conference room and another room for smaller meetings. The neighboring facility includes a ballroom that can be separated into three different meeting spaces depending on need.
About 3,500 square feet of the campus' second building was designed for long-term rental.
The Manatee Association of Realtors left it unfinished so the tenants can decide what works best for them, the Herald has reported.
Dee Graham, Herald reporter, can be contacted at 941-748-0411, ext. 7024 or tweet@deegrahambh.