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Business Observer Tuesday, May 10, 2022 3 months ago

Fort Myers mine sells for $15.3 million

The new owner, Seagate Development Group, will develop the property when materials are sold.
by: Louis Llovio Commercial Real Estate Editor

Seagate Development Group has bought a 502-acre sand and salt mine in Fort Myers.

The company paid $15.3 million for the property, buying it from MCIN Bell. LSI Cos. represented both parties.

The Bell Boulevard Mine is made up of 6 million tons of import fill and 21 million tons of base rock. Earth Tech Enterprises, a Seagate company, will mine the site starting in June.

Seagate, in a statement announcing the purchase, says it plans to develop the land once all the material is sold. The company did not say what it would be developed as, but, in what might be a clue, Seagate’s chief operating officer and partner James Nulf, Jr. says in the statement that “to think that a property that people may not have given much thought could one day become someone’s place of work or home is nothing short of exciting.”

The 554.33-acre mine was first mined in the early 1980s. The property is located along State Road 82, 8 miles east of Florida Southwest International Airport.

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