Fort Myers investors buy office building

BUYER: Infinite 3049 LLC (principal: Amit Maheshwari), Fort Myers

SELLER: Landmark Bank NS

PROPERTY: 3049 Cleveland Ave., Fort Myers

PRICE: $775,000

PREVIOUS PRICE: $3.2 million, August 2005

LAW FIRM ON DEED: GrayRobinson PA, Fort Lauderdale

PLANS, DESCRIPTION: Fort Myers Realtor Amit Maheshwari and his father Arun Maheshwari purchased the 40,281-square-foot Lee Executive Center for $775,000. The price equated to $19 per square foot.

The two-story building features office space, limited retail space and 6,000 square feet devoted to executive office suites. The 35-year-old building is nearly vacant.

“We are looking at rehabbing the center completely,” says Amit Maheshwari. “We are going to do a cosmetic renovation, patch the roof, improve the landscaping and work with the community and police force to make the center safer and more attractive than in the past.”

Maheshwari plans to open the center for leases by January.

Jim Boback of Boback Commercial Group handled the transaction.