Alico Commons sells for $9.88 million

BUYER: PMAT Alico LLC (principal: Robert Whelan), Mandeville, La.
SELLER: EOP Alico Ltd.
PROPERTY: 16960-16980 and 16971 Alico Mission Way, Fort Myers
PRICE: $9.88 million
PREVIOUS PRICE: $4.65 million, March 2005 and $425,000, June 2011
LAW FIRM ON DEED: Shumaker Loop & Kendrick LLP, Tampa

PLANS, DESCRIPTION: Real estate development firm PMAT Cos. purchased the 97,663-square-foot Alico Commons for $9.88 million.

The price equated to $101 per square foot. That figure is lower than the two-year average price per square foot for retail space ($140) for Southwest Florida, according to the CoStar Group.