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Massachusetts investors buy U.S. 41 retail building


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  • | 9:32 p.m. November 25, 2011
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  • Commercial Real Estate
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BUYER: A&K Realty LLC, Nahant, Mass.

SELLER: DRW Partnership LLP

PROPERTY: 15121 S. Tamiami Trail, Fort Myers

PRICE: $1.25 million

PREVIOUS PRICE: $565,000, August 1993

TITLE FIRM ON DEED: Atlas Title of S.W. FL Inc.

PLANS, DESCRIPTION: A Nahant, Mass.-based investment group purchased a 20,602-square-foot vacant retail building for $1.25 million.

The price equated to $61 per square foot.

Built in 1995, the property is located at the intersection of U.S. 41 and Jamaica Boulevard. The building, which was last renovated in 2009, also features a two-bay truck well for semi-truck deliveries and 6,000 square feet of warehouse space.

Dan Miller of The Miller Alliance of Re/Max Realty Group represented the seller and Nick Paulus of Invest Realty LLC represented the buyer.

“It's a great building in a phenomenal location on a lighted intersection,” Paulus says. “It should be a nice investment. This was a long process to get under contract. When the tenant moved was when the price got to where we needed it to be.”

 

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