National Retail Properties buys SunTrust building

BUYER: National Retail Properties LP (principals: Craig MacNab, Kevin Habicht, Julian Whitehurst, Christopher Tessitore and Paul Bayer), Orlando
SELLER: IA Branch Florida Portfolio LLC fka St. Florida Portfolio VI LLC
PROPERTY: 530 Cape Coral Parkway E., Cape Coral
PRICE: $2.17 million
PREVIOUS PRICE: $720,000, December 1996

PLANS, DESCRIPTION: Orlando-based National Retail Properties Inc. purchased a 4,417-square-foot bank building for $2.17 million.

The price equated to $491 per square foot. That figure is higher than the two-year average price per square foot for retail space ($140) in Southwest Florida, according to the CoStar Group.