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KGM Properties buys dermatology building
BUYER: KGM Properties Limited Partnership (principal: Karen Skinner as trustee, Fort Myers
SELLER: Island Coast Dermatology PA
PROPERTY: 7310 College Parkway, Fort Myers
PRICE: $2 million
PREVIOUS PRICE: $850,000, March 2002
LAW FIRM ON DEED: Thomas E. Moorey Attorney, Fort Myers
PLANS, DESCRIPTION: KGM Properties Limited Partnership, an investment group led by a trust, purchased an 8,948-square-foot medical-office building on College Parkway for $2 million.
The purchase price equated to $224 per square foot of building space.
The building previously housed Island Coast Dermatology, a medical practice owned by Dr. Jeffrey Martin. The practice was recently sold to Orlando-based Leavitt Management, which owns about 40 dermatology offices statewide.
“I've done business with Dr. Martin before; we have some of the same professional contacts,” says Karen Skinner, as trustee for the trust. “He was selling his practice and relocating to Alabama. It's in an excellent location being on College Parkway with the traffic that goes down from the channel from the cape. It was also in very good condition.”
The new medical practice, which is being called Island Coast Dermatology/Advanced Dermatology and Cosmetic Surgery, has agreed to a 10-year lease on the property.
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