Developer buys 2.4-acre property, demolishing two buildings for Culver's

BUYER: 1607 Cape Coral Parkway LLC (principal: Dan Creighton), Cape Coral
SELLER: Fifth Third Bank
PROPERTY: 1611, 1625 and 1607 Cape Coral Parkway E. and 1630 and 1620 S.E. 47th Terrace and the corner of Del Prado Boulevard South and Cape Coral Bridge Road, Cape Coral
PRICE: $1.35 million
PREVIOUS PRICE: $2.8 million, November 2002
LAW FIRM ON DEED: Zimmerman Kiser & Sutcliffe PA, Orlando

PLANS, DESCRIPTION: Developer Dan Creighton purchased four commercial buildings on 2.4 acres at the northeast corner of Del Prado Boulevard and Cape Coral Parkway for $1.35 million.

The price equated to $562,500 per acre. That figure is lower than the two-year average price per acre for office land ($935,216) in Southwest Florida, according to the CoStar Group.