JCFA Ranch buys bank building

BUYER: JCFA Ranch, Bakersfield, Calif.
SELLER: Shops at Verandah Ltd.
PROPERTY: 11801 Palm Beach Blvd., Fort Myers
PRICE: $1.75 million
PREVIOUS PRICE: $3.71 million, December 2004
LAW FIRM ON DEED: Hill Ward Henderson, Tampa
PLANS, DESCRIPTION: A company, using the corporate identity of JCFA Ranch, with significant real estate holdings in California purchased a 6,245-square-foot bank building at the intersection of Palm Beach Boulevard and State Road 31 for 1.75 million. The purchase price equated to $280 per square foot of building space.