Realtor group selling Lakewood headquarters

LAKEWOOD RANCH — When the Manatee Association of REALTORS opened its new offices and conference center in Lakewood Ranch in 2008, the organization had purposefully created space for expansion.

Now, following a downturn in the economy, the organization is putting its two buildings up for sale. The association is asking $2.5 million for the properties — a figure slightly under the facility’s appraised value of $2.6 million.

“Although we have a beautiful building, we don’t utilize all our space,” Association President Angie Cegar said, noting the buildings have never fully been utilized. “We did our due diligence, and we researched our opportunities available to us. We decided (because) we were not utilizing the entire building, it was a smart thing to do. It made good business sense.”

Cegnar said the group began considering selling the property about one year ago.

The property, at 10920 and 10910 Technology Terrace, consists of two buildings totaling about 16,500 square feet. One building houses the association’s administrative offices, a board room and Realtor store. The second building, dubbed the Conference and Event Center, includes office space and an open meeting area that can accommodate up to 300 people for banquets, seminars or other events.

The association may sell one or both of the buildings and may consider leasing a portion of the space back, if the buyer is so inclined, Cegnar said.

Listing agent Cyndi Myers, of Wagner Realty, said the property is a great location, with easy access to the interstate and businesses such as the Manatee Chamber of Commerce, United Way and the Lakewood Ranch YMCA, and would be ideal for an expanding business.

“Because it’s a signature building, we feel some of the local businesses may consider this for a corporate headquarters,” she said.

Myers said other potential uses include medical offices or education. While degree-centered educational programming would require zoning changes, in-house training for businesses or similar opportunities would not.

Cegnar said the decision to sell the properties is not one prompted by financial distress. The association is current on all bills and does not need to sell the property. Cegnar said if the properties sell, the organization would survey its members to determine their needs and desires for a future building. The location, she said, may or may not be in Lakewood Ranch.

Peace Presbyterian Church currently leases office space in the Conference and Event Center building and has about two years remaining on its lease. The church will be allowed to remain on site at least until a sale is made, Cegnar said.

Contact Pam Eubanks at [email protected].