Fort Myers developers buy restaurants to build 10 waterfront homes

BUYER: Persaud Properties FL Investments LLC (manager: Terry Persaud), Fort Myers
SELLER: East Coast Restaurants Inc.
PROPERTY: 3040 Estero Blvd., Fort Myers Beach
PRICE: $8 million
PREVIOUS PRICE: $2.1 million, December 1992
LAW FIRM ON DEED: Fowler White Boggs PA, Fort Myers

PLANS, DESCRIPTION:
Terry Persaud and his business partner developer/real estate agent Joe Orlandini purchased 3.49 acres of beachfront property for $8 million.

The price equated to $2.29 million per acre.