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PLC Investors buy Colonial Blvd. site
BUYER: PLC Investors LLC (principal: Patrick Logue), Fort Myers
SELLER: Timothy and Marsha Shaw
PROPERTY: 1820 Colonial Blvd., Fort Myers
PRICE: $1.1 million
PREVIOUS PRICE: $430,000, March 1997
TITLE FIRM ON DEED: Atlas Title of SW FL Inc., Fort Myers
PLANS, DESCRIPTION: PLC Investors, a limited liability company headed by Patrick Logue of Fort Myers, purchased a two-story 8,694-square-foot office building on Colonial Boulevard west of Cleveland Avenue for $1.1 million.
The purchase price equated to $127 per-square-foot. The building was the former office of First Home Builders of Florida a homebuilder headed by Logue.
Adam Palmer, director of Office Division at LandQwest Commercial, handled the sale.
“The managing director of the buyer used to be involved in First Homes,” Palmer says. “It's a B-class building in an amazing location with a sign visible from the U.S. 41 overpass. There is a very strong argument for U.S. 41 and Colonial being the epicenter of the county. It's a great spot to be in.”
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