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BUYER: Randy's Fishmarket Restaurant Inc. (principal: John R. Essig), Naples
SELLER: L&M GBC BRN LLC
PROPERTY: 25010, 25070 and 25080 Bernwood Drive, Bonita Springs
PRICE: $1 million
PREVIOUS PRICE: $484,682, July 2004 and $155,800, December 2004
LAW FIRM ON DEED: Garlick Hilfiker & Swift LLP, Naples
PLANS, DESCRIPTION: Randy's Fishmarket Restaurant Inc. purchased three flex buildings in the Bernwood Business Park for $1 million.
The price equated to $47 per square foot.
The 1.97-acre property features a 6,800-square-foot building and two abutting buildings that total 14,500 square feet.
Randy's Fishmarket Restaurant plans to convert the standalone building into a restaurant and a gourmet market named the Paradise Shrimp Co. The location will replace the company's existing leased facility at 24851 S. Tamiami Trail.
The restaurant building will also include facilities for fish and seafood dip processing. The larger connected buildings, meanwhile, will be used for storage, offices and as a key lime pie factory for Randy's Paradise Pie Co.
“I was sick of paying high rents,” says Randy Essig, president of Randy's Fishmarket Restaurant. “The mortgage payment is about the same as the rent I was paying for 4,000 square feet.”
Essig hopes to have the restaurant open by mid-October.
In addition to the seafood and pie businesses, Essig is a partner in Palm City Market, a carryout restaurant at Southwest Florida International Airport.
Randy's Fishmarket Restaurant mortgaged the properties to Lloyd Bowein for $980,000.
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