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Boca Raton investor group buys Countryside Commons park


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  • | 5:46 p.m. September 9, 2011
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BUYER: Countryside Commons SWF LLC, Fort Myers

SELLER: C/B Associates Ltd. Partnership, Chicago

PROPERTY: 6400 Davis Blvd., Naples

PRICE: $6.5 million

PREVIOUS PRICE: $540,000, July 1987

LAW FIRM ON DEED: Garlick Hilfiker & Swift LLP, Naples

PLANS, DESCRIPTION: An investment group headed by Edmund Shamsi of Boca Raton purchased the 44,248-square-foot Countryside Commons office park for $6.5 million.

The price equated to $147 per square foot or $928,571 per building.

The seven-building park features a mixture of medical and professional office space.

Adam Palmer of the LandQwest Commercial office division represented the seller.

The park is currently 55% occupied and was described by Palmer as a value-add opportunity. Existing tenants include Naples Community Hospital, Collier Healthcare Services, Naples Diagnostic and Imaging Center and LabCorp.

“This is really a neighborhood medical park,” he says. “It's not in a bustling office corridor, it is surrounded by gated housing developments. It really caters to those rooftops.”

Palmer and LandQwest Commercial have been retained to market the vacant space.

A related company of the buyer, Back Bay Resorts SWF LLC, purchased the Hotel Indigo in downtown Fort Myers in May for $4.5 million.

 

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