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Fuccillo Automotive Group buys Cape Coral Saturn property


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  • | 11:08 p.m. December 10, 2010
  • Charlotte–Lee–Collier
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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.

 

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