There’s ‘high demand’ for this kind of business space as Bradenton grows, Realtor says
A group of local investors recently broke ground on a $1.5 million, 10,000-square-foot retail flex development at 620 67th St. Circle E. The flex space is being built on 1.4 acres of land off the State Road 64-Interstate 75 interchange.
“Right now, we are seeing a high demand for this type of property, particularly with yard space, to serve local tenants such as plumbers and electricians,” Matt Kezar, broker associate at Ian Black Real Estate, said in press release.
Flex space is industrial space that could also include office space.
Kezar facilitated the land sale to Lakewood Ranch-based 620 Partners LLC for $360,000.
John C. Whittemore is listed in state filings as the managing member for 620 Partners LLC.
“Vacancy rates in the retail flex space are incredibly low and the available inventory is often older space that needs updating. The buyer recognized this need and hopes to address it with this new facility, which is centrally located in Manatee County,” Kezar said.
The flex development will have 360-degree access, roll-up doors, yard space and parking. It will also include 1,000 square feet of office space. Construction cost: $1.5 million.
Tenants can customize the space to meet their needs, which could be anything from a daycare center to a lumber supplier.
“The buyer was interested in an income-producing property in a high-growth area with easy access to major transportation routes,” Kezar said. “The central location of this property and close proximity to I-75 will allow tenants to pull traffic from Ellenton, Parrish, Lakewood Ranch and West Bradenton, and give them a new space to conduct business from in this fast-growing area.”
Nick DeVito of Ian Black Real Estate will manage leasing for the property.
Larger flex space has also been in demand in the Bradenton area. Benderson Development’s Florida International Trade Port is being built in phases opposite Ellenton Premium Outlets at the intersection of I-75 and U.S. 301.
Benderson’s warehouse and light industrial park caters to customers needing 400,000 to 1 million-square-feet of space.
