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BUYER: Lee Memorial Health System, Cape Coral
SELLER: Three J's LLP
PROPERTY: 9131 College Pointe Court, Fort Myers
PRICE: $4 million
PREVIOUS PRICE: $3.81 million, December 2002
LAW FIRM ON DEED: Fowler White Boggs PA, Fort Myers
PLANS, DESCRIPTION: The Lee Memorial Health System purchased a 16,447-square-foot medical office building for $4 million.
The price equated to $243 per square foot. The two-year average price per square foot for office space is$120 in the Southwest Florida area, according to the CoStar Group.
The building already houses 17 physicians from the Lee Physician Group.
“We've been leasing that space for a little over 10 years now,” says Mary Briggs, a spokesperson for Lee Memorial Health System. “We had the right of first refusal on it and the former owner had a purchase offer on it. The numbers also made sense. Buying it should save us $1 million over the term of the lease. It's an excellent location.”
The new owner has no near-term plans to change the two-story building. It houses family practitioners, internists and pulmonary specialists.
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