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Business Observer Monday, Jan. 6, 2020 2 weeks ago

Ohio firm buys riverfront parcel for $12.5M, plans apartments

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Fischler Property Co. has recently helped broker several commercial real estate deals in downtown Fort Myers.

FORT MYERS — An Ohio investment firm has acquired a 5.3-acre riverfront parcel in downtown Fort Myers for $12.5 million.

Redevelopment plans on the site, formerly known as OneWest, call for two luxury apartment buildings, four and five stories tall, in addition to a parking structure, according to a statement. The parcel is at 2220 First Street, at the corner of First Street and Altamont Avenue next to the Publix-anchored First Street Village.

Fischler Property Co. represented the seller, iStar Financial. The buyer is ESH Fort Myers LLC.

No other brokers were involved, the release states. “Fischler's subject matter expertise and technical savvy inspire confidence. They allow me to be a Florida market expert from my office in New York City,” says Dan Melaugh of iStar in the statement.

“We are thrilled to deliver for our client on a project of this magnitude and excited about the positive impact it will have on the River District,” Fischler Property Principal Phil Fischler says in the release. “We are committed to playing an active role in bringing investment and restoration to the downtown area.”

Fischler Property has helped broker multiple deals in downtown Fort Myers of late, including the historic Bank of Fort Myers & Trust Building at 1500 Jackson St.

 

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