Hollywood Moon Development Acquires Kodra Professional Center Office In Sarasota For $5.5M

The property involved in this transaction is an office building located at 777 South Palm Avenue in Sarasota. It has an area of 11,825 square feet and was sold for $5,500,000, resulting in a price per square foot of $465. The building is known as the Kodra Professional Center and has been a fixture in the area for 56 years.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $5,500,000
• Buyer: Hollywood Moon Development
• Seller: Marie Selby Botanical Gardens
• Broker: Gail Bolden - SVN
• Square Footage: 11,825
• Price Per Square Foot: $465
• Market: Sarasota

Hollywood Moon Development acquired the Kodra Professional Center from Marie Selby Botanical Gardens. The building sold for nearly five times the amount that the previous owner paid for it in 2001, indicating a significant appreciation in value over the years.