The Motorcoach Store Makes South Florida Investment

Aerial view of 5821 24th St. E. Image courtesy of Ian Black Real Estate

The Motorcoach Store has acquired a 139,904-square-foot industrial property in Bradenton, Fla. Avon Cabinet Corp. sold the Class A asset for $18.3 million. Ian Black Real Estate represented both parties in the transaction.

The property will serve as the company’s national headquarters while also enabling the launch of The Motorcoach Club, a storage and concierge service for luxury diesel RV owners. The location represents a major footprint expansion for the new owner, which had occupied 18,300 square feet at 3231 59th Drive E. for the last 13 years.

Plans call for a multimillion-dollar renovation program that will result in a luxury RV dealership with 16 service bays, indoor storage for up to 88 luxury RVs and an on-site cabinet. The Motorcoach Store obtained a $16.7 million loan from the seller, according to Manatee County public records, and renovations are expected to be completed early 2024.

The Motorcoach Store’s new home

Situated on a 14-acre lot at 5821 24th St. E., the property comprises a 7,500-square-foot office component and a 100,000-square-foot manufacturing area with 22-foot clear heights. Additional features include 16 grade-level doors, seven dock-high doors, a truck court and 168 parking spots, CommercialEdge shows.

The industrial property is close to U.S. Route 301 and provides easy access to Interstate 75. The location is 5 miles from Sarasota Bradenton International Airport, 7 miles from downtown Bradenton and within 31 miles of St. Petersburg, Fla.

The asset changed hands for roughly $130.8 per square foot, a price almost on par with the national average of $129 per square foot that was recorded in June, according to a recent CommercialEdge report. The first half of 2023 has seen a significant reduction in industrial transactions, totaling $21.2 billion through June; during the same period of last year, the sales volume had reached $55 billion.