Real Capital Solutions buys North Bay Village

BUYER: RCS - Lowry Apartments LLC (principals: Marcel Aresnault and Sharon Eshima), Louisville, Colo.
SELLER: 26381 South Tamiami Trail Holdings LLC
PROPERTY: 26381-263151 S. Tamiami Trail and 3181 North Bay Village Court, Unit 1A, Bonita Springs
PRICE: $7.45 million
PREVIOUS PRICE: $7.5 million, July 2003
LAW FIRM ON DEED: K&L Gates LLP, Dallas

PLANS, DESCRIPTION: Louisville, Colo.-based Real Capital Solutions purchased the 120,000-square-foot North Bay Village for $7.45 million.

The price equated to $62 per square foot. That figure is lower than the two-year average price per square foot for retail space ($140) in Southwest Florida, according to the CoStar Group.