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Triton Companies and RBS Companies Close $40 Million Sarasota Gold Bank Plaza Deal
741 B Central Avenue
Sarasota, FL 34236
(941) 953-9191
CONTACT:
Roxanne Joffe
E-mail: rjoffe@capcreative.com
FOR IMMEDIATE RELEASE:
SARASOTA’S LARGEST COMMERCIAL REAL ESTATE SALE OF YEAR COMPLETED
Triton Companies and RBS Companies, Inc. Purchase Gold Bank Plaza in $40 Million Deal
Sarasota, FL, -Gold Bank Plaza in downtown Sarasota has been purchased by Triton Companies and RBS Companies, Inc. The transactionis valued at more than $40 million and is Sarasota’s largest commercial real estate transaction of the year. The seller is New York investor Isaac Stern. Triton Companies and RBS Companies, Inc. are Michigan-based real estate development companies with more than $1 billion in real estate holdings. Both companies have extensive development expertise and reputations for creating high quality real estate projects.
Triton Companies and RBS Companies are committed to being part of the Sarasota business community and participating in its growth. Plans for the property are not finalized but include enhancements that will contribute to the growth and beauty of the downtown area.
"We are extremely pleased to be the new owners of Gold Bank Plaza," said Brent Virkus, president of Triton Companies. "Gold Bank Plaza is a premier property in the center of downtown Sarasota, and Triton Companies and RBS Companies, Inc. will ensure that it will be one of the most beautiful complexes in the business district for decades to come."
Brian Stoy, president of RBS Companies, Inc., said, "We love Sarasota, and with the purchase of Gold Bank Plaza, RBS Companies and Triton Companies are making a long-term commitment to the vibrancy and growth of downtown Sarasota and the growth of its business district."
Gold Bank Plaza is located at 240 South Pineapple Avenue in downtown Sarasota. It is a 3.0-acre parcel on one city block, bounded by Pineapple Avenue, Ringling Boulevard, South Palm Avenue and McAnsh Square. The purchase consists of the 11-story, 125,000-square-foot Gold Bank office building, an eight-level, 625-space parking garage, and two vacant parcels that are available for development of residential condominiums, apartments, and a commercial office building. The existing office building is fully leased to many of Sarasota’s most prominent companies and firms, including Gold Bank, Morgan Stanley, Morgan Keegan, and the Abel Band law firm.
About Triton
Triton Companies is a real estate development company based in Metropolitan Detroit. Its real estate portfolio is valued at more than $1 billion, with properties across the United States and Canada, including Florida, Hawaii, Edmonton, Canada, and Phoenix, Arizona. Triton Companies offers a full-range of real estate development and investment services, including asset selection, due diligence, risk management, asset repositioning, construction management and financial management.
About RBS Companies
RBS Companies, Inc. is a leading real estate development company based in Michigan. Its family of companies offers a full range of real estate development services, construction management, property management, and residential development. Its developments include commercial office, high-tech industrial, medical office, multi-family apartments and condominiums, retail, and single family custom and semi-custom homes.
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