IPA Brokers $16.4M Sale of 10-Story Office Building on Florida’s Gulf Coast

SARASOTA, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $16.4 million sale of Kane Plaza, a 77,089-square-foot office building located at 1 S. School Ave. in Sarasota. Douglas Mandel and Nicholas Hanson of IPA arranged the transaction on behalf of the seller, TerraCap Management LLC. JLK Global Fund U.S. 2 Inc. acquired the asset. The 10-story Kane Plaza was constructed in 2000 and features a structured parking garage and renovated lobby.