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BUYER: WBF Florida Properties LLC, Adams, N.Y.
SELLER: Saturn Southwest Florida LLC
PROPERTY: 404 N.E. Pine Island, Cape Coral
PRICE: $4.9 million
PREVIOUS PRICE: $2.64 million, November 2004
BUYER: WBF Florida Properties II LLC, Adams, N.Y.
SELLER: Saturn Southwest Florida LLC
PROPERTY: 208 N.E. Pine Island, Cape Coral
PRICE: $50,000
PREVIOUS PRICE: $2.64 million, November 2004
LAW FIRM ON DEED: Anthony J. Gargano PA, Fort Myers
PLANS, DESCRIPTION: Fuccillo Automotive Group purchased the former Saturn of Cape Coral dealership and 3.13 acres for $5 million. The price equated to $736,607 per acre.
The 22,297-square-foot Saturn dealership building was constructed in 2008.
Adams, N.Y.-based Fuccillo plans to turn the site into Kia Motors of Cape Coral. The Kia dealership is expected to employee 100 people.
Creighton Realty LLC represented the seller.
Fuccillo Automotive and its owner Billy Fuccillo couldn't be reached for comment. Fuccillo used a 1031 tax-free exchange for the purchase.
According to its Web site, Fuccillo Automotive Group owns 15 auto dealerships in New York.
The purchase entity WBF Florida Properties LLC mortgaged the property to Hyundai Capital America for $5 million.