Billionaire, landowner Kelley buys Integrated Control Systems HQ

BUYER: Boca Norte LLC (principal: Greg Betterton), Venice
SELLER: Integrated Control Systems Inc.
PROPERTY: 900 and 990 W. Marion Ave. and 955 W. Retta Esplanade, Punta Gorda
PRICE: $3.52 million
PREVIOUS PRICE: $8.9 million, March 1995
LAW FIRM ON DEED: Grant Fridkin Pearson PA, Naples

PLANS, DESCRIPTION: Billionaire businessman/real estate mogul Brad Kelley purchased the 51,824-square-foot former Integrated Control Systems Inc. corporate headquarters and training facilities for $3.52 million.

The price equated to $68 per-square-foot. That figure is lower than the two-year average price per-square-foot for office space ($120) in Southwest Florida, according to the CoStar Group.