Itay Goren Of Buligo Capital Acquires Sarasota Industrial Business Center For $27.4M

The property asset involved in this transaction is an industrial portfolio located at 2387, 2363, 2383, 2202, 2230 & 2325 Industrial Boulevard in the Sarasota market. The sale price was $27,400,000, encompassing a total of 186,650 square feet and the property spans across 1.12 acres.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $27,400,000
• Square Footage: 186,650
• Price Per Square Foot: $147
• Buyer: Itay Goren - Buligo Capital
• Seller: Benjamin Genet - Genet Property Group; David Garfinkle - Biscayne Atlantic
• Brokers: Nick DeVito II & Brie Tulp - Ian Black Real Estate

This transaction marks the acquisition of the Sarasota Industrial Business Center by Buligo Capital. The seller, a joint venture of Biscayne Atlantic and Genet Property Group, originally purchased the property for $8.6 million in 2022 and made $1.3 million in improvements. The portfolio includes five industrial buildings and outdoor storage, and it is 85% leased, highlighting its operational capacity.