The developer of Lakewood Ranch town centers plans a new retail project in Parrish

James A. Jones Jr.
·2 min read

Casto Development paid $4.09 million for 13.4 acres of mixed-use land at the intersection of U.S. 301 and Fort Hamer Road and plans a retail project there.

SVN Commercial Advisory Group announced the purchase less than a week after a new two-mile section of Fort Hamer Road opened.

Plans for a retail development on the property date back to 2017 when paperwork was first submitted to Manatee County Building Services, the Bradenton Herald previously reported.

At the time, the Herald reported the property would be developed by an unidentified contract buyer.

Keith and Kathy Marsh were the sellers of the property, which is the site of their former homestead.

Tony Veldkamp, senior advisor, and Matt Fenske, advisor, represented both the buyer and seller in the transaction. The land is near a cluster of residential neighborhoods to the south.

The Fort Hamer Bridge opened in 2017, helping spark an explosion of development in the Parrish and North River area.

“When the county built the new bridge, they had to reroute Fort Hamer Road through the Marshes’ property,” Veldkamp said in a news release. “That road is now being extended northward, all the way to the county line, becoming the new Parrish bypass. It puts this site on a major thoroughfare full of growth potential.”

Fenske said that he and Veldkamp have managed transactions approaching $30 million during the past six years, with another $18 million currently listed or under contract.

“This sale and others like it should help round out the much-needed retail offerings and other services to the Parrish residents,” Fenske said in the news release.

“We’ve seen some explosive growth here, thanks in large part to the Lakewood Ranch community and Moccasin Wallow,” Fenske said. “Also, this area is home to the future State College of Florida’s Parrish campus, among a number of other new schools and two proposed hospital campuses. It’s a region on the move — lots of activity here.”

Neal Land & Neighborhoods is the developer of the largest community in the Parrish area, North River Ranch, which is projected to eventually be home to nearly 30,000 residents. Neal also built the newest section of Fort Hamer Road.

North River Ranch is also planned for a shopping center, anchored by Publix, and a hospital.

Paperwork filed with Manatee County Building Services in 2022 indicates that a Tractor Supply Co. store is planned at the Fort Hamer Road-U.S. 301 retail site.

Casto Development is a national company that built Lakewood Ranch Main Street. Casto’s local portfolio includes:

▪ Center Point at Waterside, Lakewood Ranch

▪ River Club Plaza, intersection of Interstate 75 and State Route 70

▪ North River Village, 6202 US-301, Ellenton

▪ The Shops at Summerhouse, 11716 18th Place E. Lakewood Ranch

For more information on the SVN Commercial Advisory Group, visit suncoastsvn.com.

Casto Development paid $4.09 million for 13.4 acres of mixed-use land at the intersection of U.S. 301 and Fort Hamer Road and plans a retail project there.
Casto Development paid $4.09 million for 13.4 acres of mixed-use land at the intersection of U.S. 301 and Fort Hamer Road and plans a retail project there.