Selling an industrial or manufacturing building in Sarasota

To sell an industrial or manufacturing building in Sarasota, start with an opinion of value based on recent comparable sales and current asking rents, gather the building's specifications (clear height, power, loading, zoning), decide whether you will stay as a tenant (a sale-leaseback) or vacate, and market it to owner-users and investors at the same time.

1. Know what buyers will ask

• Building and land size, year built, construction and roof age.
• Clear height, column spacing, dock-high and grade-level doors, power (amps, voltage, phase), sprinklers.
• Zoning and permitted uses, outside storage, truck access and parking.
• Environmental history, especially for manufacturing uses; your attorney may recommend a Phase I report.
• Leases, if tenants are in place.

2. Price it from the data

Look at recent qualified sales recorded by the county property appraiser and at current asking rents for similar space. The market data page tracks both for Sarasota, Manatee and Charlotte counties.

3. Decide: vacate, lease back or sell the business too

If your company operates in the building, a sale-leaseback can unlock equity while you stay. If you are selling the company, the building can be sold with it or leased to the buyer; see selling a business.

4. Market to the right buyers

Industrial buyers include owner-users expanding or relocating, local and regional investors, and 1031 exchange buyers. Good marketing reaches all of them, with clear specifications and photos.

5. Manage due diligence to close

Expect inspections, survey, environmental review, lender appraisal and title work. I coordinate these with your attorney, CPA and the buyer's lender.

Recent industrial work