Sarasota County Acquires Centauri Insurance Office Building In Lakewood Ranch For $13.1M

The property involved in this transaction is an office building located at 4801 Lakewood Ranch Boulevard N, Lakewood Ranch, FL. The asset spans 5.01 acres and has a size of 30,000 square feet. The sale price for the property was $13,100,000, which breaks down to $437 per square foot.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $13,100,000
• Address: 4801 Lakewood Ranch Boulevard N, Lakewood Ranch, FL
• Asset Size: 30,000 SF
• Price Per Square Foot: $437
• Buyer: Sarasota County
• Seller: Centauri Specialty Insurance Company
• Seller's Representative: Chris DiBitetto - ERES Companies
• Market: Lakewood Ranch, FL

As part of the transaction, Sarasota County plans to relocate approximately 100 Public Utilities employees to the newly acquired property. This will involve converting the former Sarasota Operations Center into a consolidated facility for stormwater and transportation teams, indicating a strategic reallocation of resources for the county.