In a transaction involving a development site, Jim Dixon of Arlington Properties and John O’Connor of Battery Global Advisors purchased 18.42 acres situated at 7914 South Tamiami Trail in Sarasota for $18,420,000. The sale marks a significant investment in a property that was acquired by the seller, Jeff Craft, for $4.6 million in 2019.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $18,420,000
• Address: 7914 South Tamiami Trail
• Market: Sarasota
• Acres: 18.42
• Buyer: Jim Dixon - Arlington Properties; John O’Connor - Battery Global Advisors
• Seller: Jeff Craft
• Brokers: Casey Babb, Shawn Rupp, Mark Eilers & John Ruscigno - Colliers

The deal was brokered by Colliers’ team, which includes Casey Babb, Shawn Rupp, Mark Eilers, and John Ruscigno. The Tapestry Sarasota apartment project is anticipated to be completed by early 2027, showcasing the long-term potential of the acquired land. The transaction highlights the strategic growth opportunities within Sarasota County.