Investors pay $3 million for seven downtown Bradenton properties
In the week's top commercial real estate news, newcomers commit to longer leases in Tampa, and $400 million in sales triggers new tower along Estero Bay.
Tower record: Sales have opened for units in the second tower of The Ritz-Carlton Residences, Estero Bay after sales on the first tower, which broke ground in July, hit the $400 million mark. The north tower, which is the one that’s yet to start construction, will be 22 stories and have 112 units between 2,628 square feet and 3,885 square feet, according to a statement. Prices start at $3 million. The two-, three- and four-bedroom units will come with dens and dedicated elevators. The project is being developed by the Naples-based London Bay Development Group. When complete, the dual 22-story towers will have at total of 224 units. The sales office is at 5000 Coconut Road in Bonita Springs.
Louis Llovio is the deputy managing editor at the Business Observer. Before going to work at the Observer, the longtime business writer worked at the Richmond Times-Dispatch, Maryland Daily Record and for the Baltimore Sun Media Group. He lives in Tampa.
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