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Real estate firm buys Plymouth Center

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  • | 9:40 p.m. July 23, 2010
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  • Charlotte–Lee–Collier
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BUYER: NYFL Commercial Holdings LLC (principal: Tom Venetis), Fort Myers

SELLER: Michael Winters, receiver for ESPO Capital Inc.

PROPERTY: 15200 and 15248 S. Tamiami Trail, Fort Myers

PRICE: $2.83 million

PREVIOUS PRICE: $8.8 million, June 2007

LAW FIRM ON DEED: Ruden McClosky PA, Orlando

PLANS, DESCRIPTION: A Fort Myers real estate investor purchased the Plymouth Center retail strip center for $2.83 million.

The price equated to $62 per square foot.

The buyer, NYFL Commercial Holdings 2 LLC, is managed by Tom Venetis of Fort Myers. The property's former owner, ESPO Capital Inc., filed for Chapter 11 bankruptcy and was represented by a receiver.

The two-building, 44,769-square-foot strip center was 68% occupied at the time of the sale. Built in 1990, the center occupies 4.06 acres. It is anchored by a thrift store for the Blessed Pope John XXIII Catholic Church.

Mike Milano and Cynthia Shelton of Colliers International Tampa Bay Florida and Karen Johnson-Crowther of Colliers International Southwest Florida represented the seller/receiver. Chase Mayhugh with Mayhugh Realty Inc. represented the buyer.

Another real estate company run by Venetis, NYFL Commercial Holdings LLC, purchased the 30,019-square-foot Palm Professional Terrace in Fort Myers for $2.25 million late last year. Both retail centers have frontage on U.S. 41.


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