Lorraine Corners South LLC, a subsidiary of Lakewood Ranch master developer Schroeder Manatee Ranch Inc., sold just over two acres of commercial land at the intersection of Lorraine Road and State Road 70 in Lakewood Ranch to BW 70 Lorraine LLC for $1.2 million.
The address is 14510 SR 70 E.
BW 70 Lorraine, a Tampa company managed by T. Austin Simmons, financed the purchase with a $1.825 million construction and development loan from Stonegate Bank.
The former senior director of real estate for Eckerd Corp., Simmons now c0-manages Brightwork Real Estate, which develops commercial real estate for clients and for its own account.
Its development portfolio includes Starbucks, Panera Bread and Wawa Convenience Store outlets.
