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Tampa's Giant Oil buys Gladiolus Village

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  • | 8:11 p.m. December 2, 2011
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  • Commercial Real Estate
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BUYER: Giant Oil Inc. (principal: Basem Ali), Tampa

SELLER: Cadence Bank NA

PROPERTY: 11571-11581 Gladiolus Drive, Fort Myers

PRICE: $1.25 million

TITLE FIRM ON DEED: Alpha-Omega Title Services Inc., Tampa

PLANS, DESCRIPTION: Tampa-based gasoline distributor Giant Oil Inc. purchased the 13,900-square-foot Gladiolus Village for $1.25 million.

The price equated to $90 per square foot.

Located across the street from a Publix-anchored shopping center, the two-building strip center features a Pizza Hut and Shell Gas Station, which Barbara Whittaker, property administrator for Giant Oil, says was the main attraction for the petroleum jobber. Currently, the center has 4,800 square feet of vacant space.

Rokki Rogan of LandQwest Commercial represented the seller, Cadence Bank NA.

Giant Oil supplies gas, retail branding and real estate and construction services for convenience stations in several states.

Giant Oil mortgaged the property to Fifth Third Bank for $1 million.


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