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Investor Group buys Fort Myers office building

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  • | 12:16 p.m. May 28, 2010
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  • Commercial Real Estate
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BUYER: The Cambridge Building LLC (principals: Quadrige Art III LLC and Michael Peterman), Fort Myers

SELLER: Benchmark Holdings Inc.

PROPERTY: 7680 Cambridge Manor Place, Fort Myers

PRICE: $685,000

PREVIOUS PRICE: $680,000, May 2006

TITLE FIRM ON DEED: Stewart Title Co., Fort Myers

PLANS, DESCRIPTION: The Cambridge Building LLC purchased a 9,600-square-foot office building for $685,000.

The price equated to $71 per square foot.

Cambridge Building is an investor group led by Quadrige Art III LLC of New York City and Michael Peterman of Fort Myers.

The building, located south of Brantley Road and east of Summerlin Road, is half occupied. It currently houses the marketing and PR firm Briggs & Rogers and the engineering company Matern Professional Engineering PA.

Michael Frye of Re/Max Realty Group Commercial represented the seller and Tim Colen of One Source Commercial Realty LLC represented the buyer. Colen will be marketing the vacant space.

“It was a good investment they got at the right price,” Colen says. “They are value buyers.”


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