Real Estate Development Firm Sets Up Sun Coast Operations Center
Sarasota, FL -- (ReleaseWire) -- 07/24/2006 --Triton Companies, the Detroit-based real estate development firm who purchased the former Gold Bank Plaza in downtown Sarasota earlier this year in partnership with RBS Companies, has opened an office in recently renamed M & I Bank Building. The $40 million transaction closed in early April and has since kept Triton president, Brent Virkus, busy analyzing the myriad opportunities the premier property presents.
Triton Companies currently carries more than $1 billion of real estate assets in their portfolio with properties in Hawaii, Arizona and Florida. Initially formed as an investment company for high-worth individuals, Triton soon made the transition from securing investments to playing a major role in real estate development. With a keen eye toward the burgeoning potential of the retiring baby-boom population, Triton became interested in the Sarasota region 18 months ago and began seeking opportunities.
Heralded as the largest real estate deal of 2006, the property includes not only the 11-story, 125,000-square-foot M & I office building, but an eight-level, 625-space parking garage and two vacant parcels as well. Encompassing a full city block bounded by Pineapple Avenue, Ringling Boulevard, South Palm Avenue and McAnsh Square, the 3-acre parcel offers the possibility for development of residential condominiums, apartments, a commercial office building and retail space.
“We are spending a great deal of time in Sarasota,” said Virkus, “So it just made sense to officially open an office here. This really is one of the nicest areas I’ve ever been involved with,” said the Triton president. “The cultural richness, the wealth of fine dining establishments and the overall friendliness of the Sarasota area make me thrilled we are here.”
Triton’s Sarasota office is located at 240 S. Pineapple, Suite 201 in the M & I Building. Visit www.tritoncompanies.com for further information.
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 including Florida, Hawaii, Edmonton, 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.
1900 Main, Suite 301
Sarasota, FL 34236