Marcus & Millichap has closed on the sale of a North Port building leased to La Petite Academy.
The firm says the New Jersey buyer, an investor, picked it up as part of a 1031 Exchange for $3.64 million.
Sarasota County property records show the seller is a real estate investment trust that paid $3.2 million for it in 2019. (According to state and county records the seller is an LLC belonging to the San Diego, California, investment firm Realty Income.)
The 20,218-square-foot building sits on 2 acres at 2700 Bobcat Village Center Road, just off of Toledo Blade Boulevard.
Marcus & Millichap, which represented the seller, says the day care operator has a triple-net, corporate backed lease with eight years remaining on it.
The firm’s Dominic Sulo, Don McMinn and Ryan Nee worked on the deal.
