- March 28, 2024
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Sun Sports owners buy flex building
BUYER: Executive Circle Business Center LLC (principal: Iain Johnstone), Fort Myers
SELLER: B/K/G Colonial Business Center LLC
PROPERTY: 4220 Executive Circle, Fort Myers
PRICE: $1.75 million
PREVIOUS PRICE: $2.45 million, March 2007
LAW FIRM ON DEED: Barris Sott Denn & Driker PLLC, Detroit
PLANS, DESCRIPTION: An entity led by Sun Sports Cycle and Watercraft Inc. owner Iain Johnstone purchased a 63,960-square-foot flex building on Executive Circle between Winkler Avenue and Colonial Boulevard for $1.75 million.
The purchase price equated to $27 per square foot and it was an all cash deal.
The building shell was completed in 2008, but the interior was never built out. Johnstone says he was drawn to the building as an investment.
“I haven't decided what we will ultimately do with it,” he says. “We'll either be looking to lease it or sell. We may keep part of it for some storage for my store. I liked the proximity to my store; it's just down the street. I also liked the price; it was getting ready to go into foreclosure and seemed very reasonable.”
Johnstone is working with Bob Johnston, Jerry Messonnier and Derek Bornhorst with Grubb & Ellis | 1st Commercial, who also negotiated the sale, on repositioning the property.
The motorcycle and watercraft dealership Sun Sports Cycle & Watercraft dealership operates from the corner of Colonial and Veronica Shoemaker boulevards.