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BUYER: South Florida Water Management District, West Palm Beach
SELLER: 850 NWN LLC
PROPERTY: 3875 and 3881 City Gate Blvd. N., Naples
PRICE: $2.1 million
PREVIOUS PRICE: $7.5 million, December 2009 (includes multiple parcels)
LAW FIRM ON DEED: Roger B. Rice, attorney at Law, Naples
PLANS, DESCRIPTION: The South Florida Water Management District purchased 5.01 acres in City Gate Commerce Center for $2.1 million.
The price equated to $418,762 per acre.
The water management agency purchased the vacant commercial land to develop a field station to support the Big Cypress Basin, a collection of 162 miles of canals and water control structures in Collier County. The station will feature office space and garages for the agency's heavy equipment.
The agency, known as Swiftmud, paid the appraised value of the property.
“The current situation is that the areas we use now flood pretty regularly,” says Swiftmud spokesperson Randy Smith “There is no place to put the equipment so they have to work on it outside.”
The agency hopes to have the engineering, design and all other regulatory approvals for the development to start construction in a year.
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