About The Area
The Property is located in Bradenton, Florida, in Manatee County, about 50 miles south of Tampa. Bradenton is known for its historical parks and museums, providing an abundance of culture and history. The Sarasota Central Business District is located approximately eight miles northeast of the Property and offers many shopping and dining options. The Property is near many major interstates and highways, including Interstate 75 and Highway 41. The area benefits from a centralized, strategic location within Florida between two of the state’s largest business centers, Miami and Tampa. University Parkway provides direct access to the Sarasota-Bradenton International Airport, already handling more than one million passengers in the first three months of 2022
Florida, commonly referred to as the ‘Sunshine State’, is renowned for its miles of sandy beaches and crystalclear waters, making it an attractive place for tourists to visit. Despite the ongoing Covid-19 pandemic, tourism has rebounded, and Florida welcomed 36 million visitors between January and March of 2022. Overseas travelers increased 169 percent from Q1 2021 to Q1 2022, and hotel demand for Q1 2022 exceeded pre-pandemic levels, growing by 31.4 percent.10 Florida is the seventhfastest growing state in America, with an annual growth percentage of 1.12 percent. Florida is home to many of the top amusement parks and water parks in the nation, including Walt Disney World, which provides 463,000 jobs and $5.8 billion in additional state tax revenue.
The Property, part of the Lakewood Ranch master-planned community, is located in the Sarasota MSA, approximately eight miles northeast of the Sarasota Central Business District and 50 miles southeast of Tampa’s financial center and Tampa International Airport, which provides for the bulk of the region’s air transportation needs. The Sarasota MSA is a growing area of west Florida, experiencing substantial increases in population and households. The total population for the Sarasota MSA is 863,230, with an unemployment rate of 2.8 percent, lower than the U.S. average of 3.5 percent. Sarasota’s MSA attributes its economic growth to tourism, finance, real estate, and construction sectors.