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Fuccillo Automotive Group buys Pine Island land


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  • | 3:31 p.m. November 23, 2012
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  • Commercial Real Estate
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BUYER: WBF Florida Properties LLC (principal: William Fuccillo), Adams, N.Y.

SELLER: Katherine Dougherty as trustee of a partnership agreement
PROPERTY: 418 N.E. Pine Island Road and 514 N.E. Pine Island Road, Cape Coral
PRICE: $1.95 million
PREVIOUS PRICE: $1.4 million, October 1999

SELLER: Galloway 1985 Limited Partnership LLLP
PROPERTY: 435 and 507 N.E. Pine Island Lane, Cape Coral
PRICE: $270,000
PREVIOUS PRICE: $315,900, March 2005 and $141,000, June 2004

ATTORNEY ON DEED: Denis H. Noah, Esq.

PLANS, DESCRIPTION: An affiliate of Fuccillo Automotive Group purchased 10.19 acres of commercial land on Pine Island Road east of Santa Barbara Boulevard N. for $2.22 million.

The price equated to $221,958 per acre or $5 per square foot.

The land is adjacent to the existing Fuccillo Kia dealership. The new owner reportedly plans to develop a service center on the property. Calls made to the Adams, N.Y., company were not returned prior to deadline.

Enn Luthringer of CRE Consultants handled the transaction.

Fuccillo Automotive Group owns a total of 22 automotive dealerships.

 

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