Buligo Capital has purchased the Sarasota Industrial Business Center, a 187,000-square-foot industrial portfolio, for $27.4 million.
The complex, located about two miles east of Sarasota Bradenton International Airport, consists of five shallow-bay industrial buildings totaling more than 186,650 square feet, along with 1.12 acres of outdoor storage and laydown yard space. The properties, at 2387, 2363, 2383, 2202, 2230 and 2325 Industrial Blvd., offer direct access to U.S. 301 and Interstate 75.
Nick DeVito II and Brie Tulp, of Ian Black Real Estate, represented the seller, GBA Holdings, a joint venture between Biscayne Atlantic and Genet Property Group, and procured the buyer through an off-market listing, according to a statement.
Biscayne Atlantic acquired the property in 2023 and invested more than $1.3 million in capital improvements. At the time of the sale, the space was 85% leased with tenants on multi-year agreements.
Buligo Capital also owns a 119,204-square-foot industrial property in North Venice, the former Tervis headquarters, which it purchased for $15.35 million, in 2023.