LONGBOAT KEY -- The Centre Shops of Longboat Key are now in the hands of a Sarasota real estate investor.
The retail shopping center sold for $3.5 million to a company managed by Eric Howell, president of Lancaster Realty, according to property records.
The shopping center, 5370 Gulf of Mexico Drive, features The Lazy Lobster of Longboat Key restaurant, First Bank, UP Store and doctor offices. The 5.7-acre shopping center features 250,840 square feet of commercial space built in 1987, according to property records.
Howell's company, FH Centre Shoppes LLC, used a $3 million mortgage with Englewood Bank & Trust to finance the deal, according to clerk records.
The seller Centre Shops of LK LTD acquired the center in 1998 for $3.6 million from Ron Allen of NDC Construction Company, according to property records.