BUYER: EBC 9011 Daniels LLC (principals: John and Jeff Stultz), Fort Myers
SELLER: PDI LLC
PROPERTY: 9011 Daniels Parkway, Fort Myers
PRICE: $1 million
PREVIOUS PRICE: $564,700, November 2000
LAW FIRM ON DEED: Anthony J. Gargano PA, Fort Myers
PLANS, DESCRIPTION: Fort Myers-based Stultz Inc. purchased 1.54 acres between Six Mile Cypress Parkway and Interstate 75 for $1 million.
The price equated to $649,351 per acre.
The new owner plans to develop an 8,300-square-foot retail strip center on the property.
“We're in talks with [potential] tenants now,” says Jeff Stultz, vice president and project manager for Stultz. “At least one of them is a national retailer. What we liked about it was its proximity to I-75 and the demographics in that area. It has an above average household income and a number of very nice residential communities nearby. There's a good customer base.”
Stultz says that although there are other retailers in that area, the company feels that there are unmet categories.
Construction is scheduled to start after the first of the year and last until mid- to late fall 2013. Fort Myers-based Sheeley Architects designed the project, and Sarasota's Banks Engineering is doing the civil engineering. Stultz will be the general contractor for the development.
Randy Thibaut and Carl Barraco Jr. of Land Solutions Inc. represented the seller.
The purchase entity EBC 9011 Daniels LLC mortgaged the property to FineMark National Bank & Trust for $600,000.