Coconut Point Properties buys 13 units from Simon

Coconut Point Properties buys 13 units from Simon

BUYER: Coconut Point Properties LLC (principals: Jacqueline and Dan Peregrin), Little Rock, Ark.

SELLER: Coconut Point Developers LLC

PROPERTY: 23190 Fashion Drive, units P201-208, P216, R217-220, Estero

PRICE: $1.72 million

TITLE FIRM ON DEED: Lawyers Title Insurance Corp., West Palm Beach

PLANS, DESCRIPTION: Dan Peregrin, a managing partner in the Arkansas accounting firm of Moore Stephens Frost and a land investor, and his wife Jacqueline Peregrin purchased 13 office suites in Coconut Point for $1.72 million.

The purchase price equated to $131,954 per unit. All of the units were vacant and unimproved.

“We had an interest in the property there, so when Simon [Property Group Inc.] expressed an interest in selling the properties, we took them up on it,” Dan Peregrin says. “We're going to be building them out, which in my experience makes it easier to lease or sell them. The complex just has a great upscale mix of commercial residential and retail. It's really a self-contained village right on U.S. 41.”

The new owners have hired Matt Stepan of Premier Commercial Properties to market the units.<