Fort Myers investors buy Sierra Meadows land

BUYER: Sierra Meadows LLC (principals: Keith Campbell and Ted Muftic), Fort Myers

SELLER: Special Acquisitions II Inc.

PROPERTY: 8434, 8420, 8370, 8385 and 8375 Sierra Meadows Drive, 8414 Coyote Drive and 8382 Sequoia Drive, Naples

PRICE: $3.4 million

LAW FIRM ON DEED: Stearns Weaver Miller Weissler Alhadeff & Sitterson PA, Miami

PLANS, DESCRIPTION: Fort Myers real estate investors Keith Campbell and Ted Muftic purchased 23.72 acres for $3.4 million.

The price equated to $143,339 per acre.

Gary Tasman and Shawn Stoneburner of Commercial Property Southwest Florida LLC, a Cushman and Wakefield alliance member, handled the transaction.

The property, at the southwest corner of Rattlesnake Hammock Road and Collier Boulevard, was purchased as an investment, according to Tasman. The investors will consider a development or sale in the future. The site is across from Collier County government offices and adjacent to a Publix-anchored retail center.

The buyers mortgaged the property to the Employees' Retirement Plan of Hajoca Corp. for $1.6 million.