Estero dentist buys unit in Coconut Point Center

Estero dentist buys unit in Coconut Point Center

BUYER: REJ Holdings LLC (principals: Scott and Kelley Johnson), Bonita Springs

SELLER: Coconut Point Center LLC

PROPERTY: 23451 Walden Center Drive, unit 2, Estero

PRICE: $576,300

PREVIOUS PRICE: $875,000, February 2004 (includes additional parcels)

LAW FIRM ON DEED: Salvatori Wood Buckel & Weidenmiller, Naples

PLANS, DESCRIPTION: Dentist Scott Johnson and his wife Kelley Johnson purchased a 1,900 square foot unit in the Coconut Point Center Condominiums on U.S. 41 south of Coconut Drive for $576,300. The purchase price equated to $303 per square foot.

Scott Johnson's dental practice has leased the space for a year and a half.

“Buying the space was just the next step in our contract,” Johnson says. “Now sure is the time to be an owner. When the price to own is less than the price to rent; it's time to buy. We are right across from Coconut Point and really feel the future is going to be up at that corner.”

According to the CoStar Group, the 7,040-square-foot Coconut Point Center was built in 2006.

The purchase entity mortgaged the property to Comerica Bank for two loans totaling $518,670.