Tervis relocates central office, frees space up at former Venice HQ

Drinkware company Tervis, which filed for bankruptcy last year, has fully moved out of its former headquarters in south Sarasota County and back to its original manufacturing facility at 928 S. Tamiami Trail in Osprey.

With it gone, work is underway to lease the vacated space at the former headquarters in Venice.

Tervis had operated out of the 119,989-square-foot facility at 201 Triple Diamond Blvd. for about 20 years, before the firm sold it in 2023 for $15.35 million. At the time, it leased back about 60,000 square feet from the new owner, Bulgio Capital.

The company filed for Chapter 11 bankruptcy Sept. 5, 2024, citing industry shifts and ongoing litigation, and emerged earlier this year. CEO Hosana Fieber told the Business Observer afterward that Tervis would relocate its headquarters from Venice to Osprey after completing renovations to add office space.

The Venice headquarters property itself is just off Interstate 75 in the Triple Diamond Industrial Park. It was recently renovated with new exterior paint, parking lot striping and landscaping upgrades, according to a statement. 

With Tervis gone, there is 54,189 square feet available for lease at the Venice property. Of that, 37,650 square feet is warehouse space and 16,539 square feet of office space. The vacant warehouse building has two van-high loading doors and four dock-high loading doors.

Real estate firm Colliers, which is charged with leasing the space, says in the statement that it is ideal for manufacturing — particularly in the medical and pharmaceutical sectors — as well as e-commerce operations and building supply distribution.

The property already has two existing tenants: Global Sports Institute and Combat Waffle Studios.

Global Sports Institute, which is run by two former Olympians, leased 42,451 square feet last year for a multisport facility that offers volleyball, pickleball, yoga and gyms. Its primary function is for volleyball training with serving machines, spike trainers and individual training.

Combat Waffle leased a 23,349-square-foot space in a stand-alone building on the property earlier this year. The veteran-owned gaming software company, backed by Facebook parent Meta, moved into the space after the development of its VR extraction shooter game Ghosts of Tabor, which has grossed more than $20 million in sales in just over two years. Collier says the company is fully operational and is aiming for 100 employees to eventually work from that office.

Colliers’ Michelle Senner manages the leasing for the property for Buligo Capital.