RLR Investments buys former Blockbuster building

BUYER: RLR Investments LLC (principals: Ralph Roberts Sr., Mary and Roby Roberts, Jeffrey Haungs and Donald Deluca), Wilmington, Ohio

SELLER: Savannah Land Corp.

PROPERTY: 26811 S. Tamiami Trail, Bonita Springs

PRICE: $1.07 million

PREVIOUS PRICE: $725,000, June 1996

LAW FIRM ON DEED: Bolaños Truxton PA, Fort Myers

PLANS, DESCRIPTION: Wilmington, Ohio-based RLR Investments LLC purchased a 7,518-square-foot former Blockbuster store for $1.07 million.

The price equated to $142 per square foot.

Built in 1996, the freestanding building is an outparcel to the Target-anchored Bonita Bay Plaza shopping center.

RLR Investments LLC, which was formerly affiliated with the large transportation company R + L Carriers Inc., acquired the building as the new home of its offshoot residential brokerage company Royal Shell Real Estate Inc.

The new owner plans to renovate the building.

Karen Johnson-Crowther of Collier International Southwest Florida represented the seller.