Arlington Properties, Inc. Acquires Multifamily Land In Sarasota For $9M

A multifamily land located at 3045 Broadway Avenue in Sarasota, was recently sold in a closed transaction. The property was acquired by Arlington Properties, Inc. from the sellers, Defined Companies and Nadeb Investment Group, Inc. The deal was facilitated by the brokers Simon Banke and Zach Nolan from JLL. The sale price for the property was $9,000,000.

Summary of transaction details

• Property Type: Multifamily Land
• Transaction Amount: $9,000,000
• Address: 3045 Broadway Avenue
• Market: Sarasota

The property spans approximately 373,309 square feet, with an average price per square foot of $24. It comprises a total of 180 units, resulting in an average price per unit of $50,000.

Simon Banke and Zach Nolan, representing JLL, played a significant role in the successful completion of the transaction as the brokers involved in the deal.