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BUYER: Bay Presbyterian Church Inc. (principals: John Anderson, George Kilpatrick, Stuart Miller, John Story and Wayne Bowman), Naples
SELLER: Promenade Lakeside LLP
PROPERTY: 26911 S. Bay Drive, Bonita Springs
PRICE: $1.2 million
PREVIOUS PRICE: $1.25 million, June 2000
LAW FIRM ON DEED: Bond Schoeneck & King PLLC, Naples
PLANS, DESCRIPTION: Bay Presbyterian Church purchased a 7,221-square-foot office building next to Promenade Shopping Center for $1.2 million.
The price equated to $166 per square foot.
The Presbyterian church has leased the lakefront building for the past six years.
“We felt like the economic climate was right for us to purchase it,” says pastor John Anderson. “That way we have a little more security for our future here. The problem with being a renter is you can't truly control your environment.”
Anderson says the church plans to make some repairs and changes to the building's roof and air-conditioning system.
The church has a joint parking agreement with the owner of the Promenade allowing for parking in the retail center.
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