BRADENTON -- A University Park investor has purchased an It Works! Global office building on State Route 64 East.
McDuke Family Limited Partnership sold the office building at 5325 SR 64 East for $4.475 million to CMA Realty, LLC, which is owned by Alan Keseten of University Park. It Works is the main tenant for that building, which is subleased, said Barry Seidel of American Property Group, the manager for the property.
"It was purchased as a real estate investment, and is a sound, sound investment like purchasing a bond," Seidel said. The sale was the largest in Manatee County for the first week of December.
The 17,548-square-foot office building sits on about 1.8 acres and was built in 2004. The McDuke Family Partnership acquired the once vacant land in 2003 for $740,000, according to property records.
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It Works sells health and beauty products and is in the midst of expanding its new headquarters at 980 Riverside Drive in Palmetto to host about 150 employees. The company moved to Manatee County in 2011 and was one of the fastest growing companies in the United States, as named by Inc. 500.
Charles Schelle, business reporter, can be reached at 941-745-7095. Follow him on Twitter@ImYourChuck.