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BUYER: Florida SE Inc. (principals: William White III, Joseph Kern and Colleen Hunter), Orlando
SELLER: Mercato Point LLC
PROPERTY: 8930 Tamiami Trail N., Naples
PRICE: $2.9 million
PREVIOUS PRICE $5.54 million, October 2005
LAW FIRM ON DEED: Lowndes Drosdick Doster Kantor & Reed PA, Orlando
PLANS, DESCRIPTION: Orlando-based Darden Restaurants Inc. purchased 2.43 acres next to the Mercato Center for $2.9 million.
The price equated to $1.19 million per acre.
The restaurant company is developing a 9,512-square-foot building with an enclosed patio for its Seasons 52 brand. The building is designed to seat 337 diners, with 44 seats on the patio and 89 seats in a piano bar. The project will create 100 jobs.
“Mercato Center is an ideal setting,” Seasons 52 President Stephen Judge says in a press release. “The combination of upscale residential living, shopping, dining and entertainment just minutes from the Gulf beaches provides a lifestyle environment compatible with the Seasons 52 concept.”
The restaurant will be the chain's first in Southwest Florida and its 19th overall. It currently operates in Florida, Georgia, New Jersey, Pennsylvania, Illinois and California, with plans to open additional restaurants in Plano, Texas; Phoenix; and Coral Gables in the fall.
Darden Restaurants is the world's largest full-service restaurant company. It owns and operates 1,800 restaurants that generate more than $7 billion in annual sales. Its restaurant brands include: Red Lobster, Olive Garden, LongHorn Steakhouse, The Capital Grille and Bahama Breeze.
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