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BUYER: CarMax Auto Superstores Inc. (principals: Thomas Folliard and Keith Browning), Richmond, Va.
SELLER: Busey Bank
PROPERTY: 3000 Colonial Blvd., Fort Myers
PRICE: $4.07 million
PREVIOUS PRICE: $7 million, July 2005
LAW FIRM ON DEED: Knot Consoer Ebelini Hart & Swett PA, Fort Myers
PLANS, DESCRIPTION: Richmond, Va.-based CarMax Auto Superstores Inc. purchased 16.73 acres at the southeast corner of Colonial Boulevard and Metro Parkway for $4.07 million.
The price equated to $243,481 per acre.
Richard Clarke and Chuck Smith of Grubb & Ellis|1st Commercial handled the sale.
The site, vacant land, was previously approved and permitted for condos. The site includes a double-sided billboard.
CarMax officials confirmed the purchase, but were vague on the future plans. “It can take two to three years before a store is ready and open for business,” CarMax spokeswoman Elia Imler says “However, there is no guarantee a store will be built.”
But Clarke and Smith say CarMax already went through extensive due diligence prior to closing on the property, including discussions with the city of Fort Myers.
“[CarMax] originally thought they might have some additional outparcels there, but they are going to need the whole site,” Clarke says.
CarMax is scheduled to open dealerships through February 2012 in Baton Rouge, La.; Lexington, Ky.; Escondido, Calif.; and North Attleborough, Mass.
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