Procacci Development buys Salrose commercial land

BUYER: Procacci Fort Myers LLC (principal: Philip Procacci), Boca Raton

SELLER: Salrose Dreams II LLP

PROPERTY: 8860 and 8870 Salrose Lane, Fort Myers

PRICE: $1.8 million

PREVIOUS PRICE: $2.5 million, June 2004

LAW FIRM ON DEED: Henderson Franklin Starnes & Holt PA, Fort Myers

PLANS, DESCRIPTION: Boca Raton-based Procacci Development Corp. purchased 2.5 acres of land for $1.8 million.

The price equated to $720,000 per acre.

Procacci Development also acquired the rights to build 90,000 square feet of commercial space on the site, on Salrose Lane, north of Daniels Parkway and east of Pinto Lane.

Procacci Development officials did not return calls for comment prior to publication. The company builds and manages office and industrial properties. It currently owns the Crossroads at Dolphin Commerce Center and Crossroads Commerce Center in Miami; the Emerald View at Vista Center in West Palm Beach; and the Sheridan Street Professional Plaza in Hollywood.