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BUYER: Alico Family Golf Center LLC (principal: James St. Germain), Fort Myers
SELLER: OB Florida CRE Holdings LLC
PROPERTY: 16250, 16300 and 16350 Lee Road, Fort Myers
PRICE: $1.25 million
PREVIOUS PRICE: $13.9 million, October 2006
LAW FIRM ON DEED: Adams and Reese LLP, Sarasota
PLANS, DESCRIPTION: A company led by PGA professional Jim St. Germain purchased 30.12 acres of Lee Road land north of Alico Road for $1.25 million.
The price equated to $41,501 per acre.
St. Germain has announced plans to create a golf-focused development called Alico Family Golf Center. The proposed project will include a 5,000-square-foot clubhouse, sports cafe, miniature golf, golf shop and a PGA teaching school.
Rokki Rogan, principal of LandQwest Commercial, represented the seller.
The purchase entity Alico Family Golf Center LLC mortgaged the property to Branch Banking and Trust Co. for two loans totaling $3.39 million.
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