Marcus & Millichap Senior Managing Director and Institutional Property Advisors (IPA) senior director Douglas K. Mandel and senior associate Jaclyn Blair, represented the seller, Lenrock Services, LLC, in the sale of a 104,345-square-foot distribution facility in Sarasota, Florida, to Coca-Cola Beverages Florida, LLC, which has occupied the facility since 2006.

The $7 million sale closed on November 1.

The property, which is situated on 10.71 acres at 2150 47th Street, is located in the Sarasota Bradenton Airport Industrial Sector which is comprised of approximately eight million square feet of industrial space with a vacancy of 3% and is less than two miles from the airport. The property has historically been occupied by major distributors including Anheuser Busch Companies, LLC and Coca-Cola Enterprises Inc., who used the facility to distribute to Manatee and Sarasota counties. Its location off of US Highway 301, a main north-south corridor, is equidistant between the cities of Bradenton and Sarasota and on the border of the two counties, making it well suited for continued operations serving both counties, especially the growing downtown Sarasota market and the master-planned Lakewood Ranch community, approximately 15 minute drives respectively.

The 1989-built property has a five-bay covered loading dock with upgraded, sensor-controlled, roll-up doors for forklift operations, a large paved area for truck or trailer parking, a guard house at the truck entrance, a light truck repair shop, truck wash, and eight-foot perimeter fencing around the entire parcel. There is additional land behind the building that could be used for expansion or paved for additional truck or equipment storage. A portion of the warehouse was previously used for cold storage and has refrigerator panels around three separate rooms that comprise approximately 15 percent of the warehouse space.

About The Mandel Group: The Mandel Group, based in Marcus & Millichap’s Fort Lauderdale office, provides the full spectrum of services for investors interested in office, industrial, shopping center, and single-tenant net-leased properties, including acquisition, disposition and operating advisory services. The team’s private and institutional clients benefit from extensive, time-sensitive market knowledge, market-leading underwriting, unrivaled transactional expertise and meticulous, hands-on involvement in all aspects of each and every transaction. Mandel+Partners leverages the power of its sales force, the Marcus & Millichap nationwide network and the entire brokerage community to ensure maximum exposure for each of its listings. For more information, please call 954.245.3465 or visit http://www.mandelpartnerscre.com.