Ringling Center for Art & Industry

Join a densely developed and highly sought-after market with the acquisition of an easily maintained and optimally located asset. Offering an eye-catching aesthetic that exudes simple sophistication, the Ringling Center for Art & Design is home to a stabilized tenant roster that has demonstrated commitment to the location through professional upkeep and capital investment into their spaces as a means of sustainable durability. This prominently located, two-building offering sits between US Highway 301 and US Highway 41, adjacent to the Sarasota Bradenton International Airport (SRQ), minutes from the easily accessible Interstate 75. The Ringling Center for Art & Design differs from the typical value-add opportunity by offering infrequent vacancies and a Sarasota address within the tax-friendly Manatee County.

The two buildings, 500 & 600 Tallevast Road, comprise an 82,368-square-foot industrial warehouse (500 Tallevast Road) and a 122,800-square-foot light manufacturing/industrial facility (600 Tallevast Road) on a 9.68-acre parcel with flexible space. Current ownership has invested approximately $50 million into both properties over the last 15 years. 500 & 600 Tallevast Road occupants enjoy redundant fiber optic connections, a dual generator backup powering system, an on-site security staff, and ample lot space that is resurfaced annually.

The Ringling Center for Art & Design’s eclectic tenants and their commitment to occupancy make the offering a viable asset for investors searching for an income-producing property that can sustain a long-term holding strategy. The property's available spaces can be leased to a variety of tenants, including retailers, tech start-ups, distributors, manufacturers, data storage, personal trainers, and more. The current tenant roster includes the State of Florida offices, biotech industry users, and more. Every tenant is under a modified gross lease, with plentiful time remaining on their term, and each tenant is responsible for any increases in taxes and insurance. Contracted rent is well below market averages, offering an opportunity to increase income through gradual rental rate increases.

The Sarasota County/Manatee County area’s business-friendly environment, combined with Florida’s continued population boom, has transformed the region into a thriving market. Over the past two years, Sarasota and Manatee County have significantly outpaced the nation’s population growth averages. According to the US Census Bureau, both counties have accounted for a combined 60,000 newly relocated residents. Each county’s locality has stimulated commercial expansion through private sector engagement that offers tax refund programs, revenue bonds, development incentives, relocation tax incentives, and tax exemption offerings. As the state welcomes businesses and residents, locality outreach and county programs are certain to strengthen the region’s economy and create comfortable market conditions for new businesses looking to move to the Sunshine State.