Loading
BUYER: 17051 Safety Street LLC, Fort Myers
SELLER: Federal Deposit Insurance Corp. as receiver for Florida Community Bank, Immokalee
PROPERTY: 17051-081 Safety St., Fort Myers
PRICE: $1.36 million
PREVIOUS PRICE: $3.34 million, October 2002
TITLE FIRM ON DEED: Bay National Title Co., Clearwater
PLANS, DESCRIPTION: An undisclosed Fort Myers Beach businessman purchased the 18.05-acre Zoomers Family Amusement Park at a Federal Deposit Insurance Corp. auction for $1.36 million.
The price equated to $75,346 per acre.
The property includes a 13,500-square-foot partially built main arcade building, 8,000 square feet of additional structures, amusement rides and a go-kart track. The arcade building features a delicatessen kitchen and seating area, five party rooms, an administrative office and storage. The development also includes a rock-climbing wall and children's playground.
Several years ago, bone surgeon Ronald Heromin of Osprey bought the property and spent a rumored $15 million developing it. He was ultimately unable to complete it, and in 2008, the property was taken back by Florida Community Bank in Immokalee.
The new owner has hired Alan Fluke of AEA Management Group, of Raleigh, N.C., to complete the project.
“I would say it was 80% completed before [the former owner] ran out of money,” Fluke says. “If we had to rebuild it, even today, it would cost at least $6 million. We are working to bring it back to what it was supposed to be. This was really the poster child of Southwest Florida's economic demise.”
Fluke plans to clean up landscaping and evaluate the existing property. The new owner is scheduled to open the facility in early 2012.
Fred Kermani of CB Richard Ellis represented the seller.
“This [property listing] was like a white elephant,” Kermani says. “It was a special property that required a specific buyer. The FDIC emphasized the need to make sure that the buyer could handle it. We had to prequalify the buyer.”
Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.
