Loading
BUYER: Naples Lodge 2010 Benevolent and Protective Order of Elks of the USA Inc. (principals: George Renner, Robert Smith, Susan Leben, Ronald Heldebrandt, Kayo Porter and Charles Meloun), Naples
SELLER: CRE Properties Inc.
PROPERTY: 11250 Tamiami Trail E., Naples
PRICE: $900,000
PREVIOUS PRICE: $1.7 million, November 2007
LAW FIRM ON DEED: Pathman Lewis LLP, Miami
PLANS, DESCRIPTION: The Naples' Benevolent and Protective Order of Elks purchased two retail buildings for $900,000.
The price equated to $75 per square foot.
The buildings, which total 12,000 square feet, are on 1.38 acres. BankUnited took back the site and buildings in February in foreclosure proceedings.
The Elks sold its 27,000-square-foot lodge to Collier County in June 2009 for $3.5 million. George Renner, past exalted ruler and current treasurer for the group, said the larger building, at 3950 Radio Road, Naples, had carrying costs that were too high for the organization.
The Elks had searched for a new lodge building since the sale. Now the group plans to renovate the buildings one at a time.
“Our main requirement is a place to live; a place where we can hold a few social affairs and fundraisers, such as our Hot Dog Saturdays,” Renner says. “We also have materials and equipment that we have stored in three other locations. Putting it in our new facility while we are renovating it should save us some money”
Craig Timmins and Bill Gonnering of Investment Properties Corp. handled the transaction.
Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.
