School district's annex property sells for $1.4 million

mjohnson@bradenton.comMarch 8, 2014 

Staff Photographer

Afternoon traffic drives past the 1.5-acre former "Checkers" property at the southwest corner of Manatee Avenue and First Street West. PAUL VIDELA/Bradenton Herald

PAUL VIDELA — pvidela@bradenton.com Buy Photo

BRADENTON -- The Manatee County School District's "Checkers" property is finally gone, albeit at a bit of a loss.

The 1.5-acre property at the corner of Manatee Avenue and First Street West sold on Jan. 10 for $1.4 million to a Delaware-registered company, Bradenton 14 LLC.

The property has been up for sale since 2010, when the Manatee School Board declared it surplus. Getting it sold has been a three-and-a-half year effort that has seen potential buyers come and go, and the sale price drop by a third.

Acquired by the school district for $1.5 million in 2004, the property was previously home to a Checkers restaurant and a medical office. The school district located its human resources office in a 7,800 square-foot building on the property -- known as the Bill Owens Annex -- for several years.

The district considered selling the property for $2.2 million in 2011 when it received an offer in that amount from a potential buyer. However, an actual sale never mate

rialized.

Last May, the district agreed to sell the property for $1.65 million to national property investment company Blackrock Development. Blackrock planned to build a PDQ restaurant on the property, but pulled out of the purchase agreement when it decided the acreage was not suitable.

PDQ later purchased 10 acres on Lena Road in East Manatee for its restaurant.

In September, the district was again poised to sell the property, this time for $2 million to Route 32 Investments, a Cincinnati company. Route 32 later transferred the purchase agreement to Bradenton 14 LLC at the reduced, $1.4 million price.

Matt M. Johnson, Herald business reporter, can be reached at 941-745-7027 or on Twitter @MattAtBradenton.

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