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BUYER: L&D Real Estate Ltd., Dublin, Ohio
SELLER: Geist Enterprises Inc.
PROPERTY: 4445 Bonita Beach Road, Bonita Springs
PRICE: $650,000
PREVIOUS PRICE: $331,700, January 2004
TITLE FIRM ON DEED: Palm Title Associates Inc., Fort Myers
PLANS, DESCRIPTION: Dublin, Ohio-based L&D Real Estate purchased Kapalua Plaza for $650,000.
The price equated to $98 per square foot of building space.
Doug Olson of LandQwest Commercial represented the seller and Richard Sawicki of Naples Real Estate Services represented the buyer. A single 1,520-square-foot unit was occupied in the 6,640-square-foot retail center at the time of the sale.
“It was purchased by a retail end user,” Olson says. “[The buyer] has a company out of Ohio involved in resale related to electronics. The only deals that are getting done involve buyers with cash or owner financing. This had both.”
The purchase entity L&D Real Estate Ltd. mortgaged the property to the former owner Geist Enterprises Inc. for $420,000.
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