September 4, 2019 – JLL announced today that it has closed the $45.2 million sale of Gateway Professional Center, a four-building, Class A office complex totaling 246,941 square feet in Sarasota, Florida.
JLL represented the seller, TerraCap Management LLC, and procured the buyer, Taurus Investment Holdings.
Gateway Professional Center comprises four buildings located at 301, 401, 501 and 551 N Cattlemen Road in Sarasota. The properties have visibility and frontage along Interstate 75, one of Florida’s major north-south arteries and are proximate to many of Sarasota’s key business drivers and major attractions, including Downtown Sarasota, The Mall at University Town Center, Lakewood Ranch, Lido Key Beach and the Sarasota-Bradenton International Airport. Overall, Gateway Professional Center is 95.1% leased to a diverse tenancy comprising accounting, insurance, engineering and technology companies. The Class A office complex offers a highly coveted amenity package, including adjacent restaurants, a fitness center and a conference center, in addition to parking for more than 1,150 vehicles.