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BUYER: RSII Properties Inc. (principal: Yaoyu Chien), Fort Myers
SELLER: Swauck Co. LLC
PROPERTY: 7557 S. Tamiami Trail and additional 0.99 acres, residential single-family land on a portion of Kai Drive, Sarasota
PRICE: $7.4 million
PREVIOUS PRICE: $10.47 million, April 2006
LAW FIRM ON DEED: Kutak Rock LLP, Omaha, Neb.
PLANS, DESCRIPTION: Fort Myers-based Robb & Stucky International purchased the two-story Bacon's Furniture building on U.S. 41 for $7.4 million.
The price equated to $111 per square foot.
The 66,856-square-foot building is very familiar territory for the Robb & Stucky brand. For most of the past decade, the building held the upscale furniture retailer, until Robb & Stucky's Chapter 11 bankruptcy in early 2011 and eventual liquidation auction. In late June 2011, Port Charlotte-based Bacon's Furniture started leasing the building to consolidate two smaller stores it owned on Tamiami Trail.
Steve Lush, president of the new owner of the Robb & Stucky brand, Robb & Stucky International, confirmed the purchase, but declined to comment on the company's future plans.
This purchase isn't the first time Robb & Stucky International has taken steps to reclaim former Robb & Stucky locations. The new company's first store location was the former Robb & Stucky retail building in Fort Myers. It plans to open a 60,000-square-foot newly built store in Naples early next year.
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