A development company is sacking the shack.
Vandyk Properties, a Canadian-based development company, has listed the Seafood Shack, a landmark restaurant on Sarasota Bay and the surrounding properties on the north side of Cortez for at least $15 million.
Vandyk Properties is a privately-owned real estate development and investment management company specializing in luxury condominium developments. It has made other land acquisitions in the Sarasota-Bradenton area, including One88, a five-story, $17 million residential building in downtown Sarasota.
A listing from Coldwell Banker on Crexi.com shows the property hit the market April 13. It lists the 5.6-acre parcel and its submerged land lease as available for purchase without a price.
Listing agents Elliot Rose and David Neff spoke with The Islander in an April 28 interview about the property.
Neff and Rose said although unpriced, the property had a floor of $15 million.
The real estate professionals said the property has a call for offers due by Monday, May 15.
A call for offer is a closed bid auction process. All property information is gathered and marketing material is distributed. A best and final bid date is set and the seller reviews all offers on that day.
Although Neff and Rose would not speak about any possible interested parties, they did say they have been inundated with credible, interested parties, some of whom are in the process of performing due diligence.
Rose said Vandyke opted to not pursue the property as a development site after realizing incompatibility with their objectives to create luxury condominium developments.
Vandyk bought the property in 2014, including the 650-seat restaurant and banquet hall, 100-slip marina and six acres. The purchase also included Annie’s Bait and Tackle Shop, 4334 127th St. W., and a homesite at 4327 127th St. W.
The marina was originally built in 1971 by Ham Jones, who built the restaurant a year later.
The Islander reached out to Vandyk Properties through email and phone April 28 but, as of Islander press time, no Vandyk representative responded.