TAMPA, FL (March 4, 2020) – Nancy Surak of Land Advisors Organization recently brokered the sale of a 20-acre multifamily site in Lutz, FL. Bainbridge Communities Acquisition III LLC purchased the land for $4,800,000 and plans to build a luxury, 268-unit, class A rental apartment community known as Bainbridge Sunlake. The site is part of the Sunlake MPUD and occupies the southeast intersection of State Road 54 and Mentmore Boulevard in Lutz, FL. Bainbridge expects to deliver units beginning summer 2021 featuring exceptional amenities including covered parking structures, a clubhouse, and swimming pool.

Bainbridge Sunlake is across
from The Shoppes at Sunlake, a Publix grocery anchored center with several
other in-line and outparcel users. Sunlake is located near newly constructed
single-family home subdivisions and top-rated area schools including Sunlake
High School, Charles S. Rushe Middle School, and Imagine Charter School. 

Surak
brokered the transaction and represented the seller, Sunlake Equity Joint
Venture, along with Bill Eshenbaugh of Eshenbaugh Land Company. The buyer was
represented by Michael
M. Gfesser, PA of
Keyes Commercial-IPRE Commercial.

“As Pasco County’s economy continues to
attract new headquarters such as TouchPoint Medical, Encompass
Health, and Mettler
Toledo it’s important for new
luxury rental housing to be developed. A variety of housing choices including
multifamily and single-family units along with strong schools and local
shopping is what makes a vibrate community work. This area of Pasco County is a
great place to live and I’m thrilled to see leading companies like Bainbridge
invest here,” said Surak.

Surak also sold a 24-acre site in Sunlake, summer
2018 for $4,758,500, to ContraVest Development
Partners, who developed a luxury, 307-unit, class A rental apartment community
known as The Addison at Sunlake.

Related