The project will consist of two buildings and an outparcel planned for a retail tenant, restaurant or bank. The east building will have 44,000 sf on two levels. Condominium business owners will have the option of constructing private exterior entrances on the first level in addition to the main building lobby which will offer access from the east, west and north parking areas. The west building will have 41,000 sf on two levels overlooking a landscaped pond and wooded area.

Burton-Katzman vice president of project development Conrad Schewe tells GlobeSt.com that the project has an estimated sell-out of $24 million. Units on the first floor will sell for $325 per sf and units on the second floor will sell for $300 per sf. The shell of the building and initial tenant improvements are expected to be completed by Nov. 15. "The project is located in the university corridor which is a growing area," Schewe says. "It's located in a commercial hub with great access to the freeway and to the airport."

The units are available from 750 sf up to full floors of 22,000 sf. The project is being marketed by Diane Lawson, of Sarasota Commercial Management LLC. "We are already attracting a lot of interest from doctors and other professional practices," Lawson says.

Burton-Katzman entered the Florida market in 2005. The company owns four development properties in the Sarasota, Tampa and Lakeland areas. Although University Professional Park is the first project to break ground, the company plans to continue developing projects in the coming years.

"We've taken our time getting to know the market and meeting some of the top developers and real estate professionals in the area," says Burton-Katzman Development Co. principal Peter Burton. "Our company has been around for nearly a century, so we have a long-term view of real estate investment and relationship building. We're here to stay."