Tidewell Foundation property on Longboat Key to list for $3M

Empath Health announced on May 13 that the company is selling its Longboat Key property located at 540 Bay Isles Road, which houses the Tidewell Foundation and other tenants.

The property will be listed for $3.1 million and represented by Ian Black Real Estate. Renée Stoeckle with Empath Health said the listing is expected to be live on May 14. 

Tenants of the building, which is 8,369 square feet and zoned for office, include The Paradise Center, Fitness Quest Longboat Key, Bee Ridge Chiropractic, Doc Side Audiology and the office of Dr. Daren Spinelle. 

According to previous reporting, The Paradise Center and most other tenants' leases run through mid-2025. 

Stoeckle said the organization began a close evaluation of its real estate last year. This evaluation stemmed from conversations the organization was having about modern workplaces and community needs.

During that time, Empath consulted Gensler & Associates to talk about what Stoeckle called legacy companies, like Tidewell Hospice.

“We began conversations with Gensler to understand what the future of workspaces look like, and how we create a model in our real estate that is going to meet the needs of our communities,” Stoeckle said. 

Stoeckle said the majority of Empath's care is in-home and many of its employees travel to different locations to work.

“Because of that, we didn’t need the same real estate footprint we did 40 years ago,” Stoeckle said. 

The organization then made the decision in March to list three properties: Clearwater, Englewood and Longboat Key. 

Going forward, Stoeckle said Empath is excited about expanding services that are offered on Longboat Key and in the Sarasota/Manatee community, like in-home hospice care, home health care and rehabilitation treatments in-home.

"Our commitment to the well-being of the Longboat Key community is unwavering,” said Chief Mission Access Officer Rhonda Sanders-Allamon in a news release. “We are dedicated to ensuring that every resident has access to the highest quality healthcare services that support their well-being and enrich their lives."

On Longboat Key, Stoeckle said that Empath offers services like Tidewell Hospice and palliative care, Empath Home Health, Empath Grief Services and Blue Butterfly Pediatric Grief Services. 

She also stated that Empath hired a new full life care liaison earlier this month who will support the St. Armands Circle, Longboat Key and Anna Maria Island areas. 

The property at 540 Bay Isles Road was last purchased in 2019 by SCATA Real Estate LLC for $1.75 million. SCATA Real Estate LLC was the real estate arm for the former parent company of the Tidewell Foundation, Stratum Health System. 

Stratum Health System merged with Empath in 2021, which made Empath the parent company of the Tidewell Foundation.