Office complex that cost $1M sells for $19M
In a deal that reveals his business acumen and modus operandi, not to mention the region’s hot real estate market, Sarasota attorney and investor David Band sold a cluster of medical office buildings at the southwest corner of Tuttle Avenue and Bahia Vista Street for $19 million.
It’s a property that Band bought for just $1.2 million in February 2002.
“That’s what you’re supposed to do in real estate,” said Ian Black, a commercial real estate broker in Sarasota. “It’s a classic example of buying low and selling high.”