Blue Waters Development Group acquired a retail building located at 1427 South Tamiami Trail in Sarasota, Florida. The asset spans 13,000 square feet and was sold for $7 million, reflecting a price per square foot of $538. The property is situated on 1.35 acres within a growing market.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $7,000,000
• Address: 1427 South Tamiami Trail
• Market: Sarasota
• Square Footage: 13,000 SF
• Price Per Square Foot: $538
• Acres: 1.35
• Buyer: Blue Waters Development Group
• Seller: Plantation Grove
• Brokers: Jag Grewal & Steve Horn - Ian Black Real Estate

This transaction positions Blue Waters Development Group to leverage a total of 3.35 contiguous acres, incorporating a neighboring 2.2-acre hotel site. The acquisition is indicative of a strategic approach towards potential mixed-use redevelopment, taking into account the increasing demand in the area, driven by recent expansions at Sarasota Memorial Hospital.