BUYER: Green Office Park LLC (principals: Lily Burgwardt and Gaston Hitters), Miami
SELLER: OB Florida CRE Holdings LLC
PROPERTY: 10201-10241, 10461, 10471, 10481, 10491 and 10501 Ben C. Pratt Six Mile Cypress Parkway, Fort Myers
PRICE: $3.7 million
PREVIOUS PRICE: $615,100, June 1989
LAW FIRM ON DEED: Adams and Reese LLP, Sarasota
PLANS, DESCRIPTION: A purchase entity led by Lily Burgwardt and Gaston Hitters of Miami purchased the Six Mile Cypress Office Park for $3.7 million.
The price equated to $61 per square foot. That figure is lower than the two-year average price per square foot for office space ($120) in Southwest Florida, according to the CoStar Group.
The development features five single-story brick buildings with garages and covered parking on a 12.65-acre site. Built between 1990 and 2011, the campus adjacent to Six Mile Cypress Slough contains a total of 60,780 square feet of office space. The park was 20% vacant at the time of the sale.
The new owner has renamed the office park Green Office Park. It plans to renovate the common areas, hallways and bathrooms for the two oldest buildings.
Florida Investors, which developed the park, has been hired to manage it.
The purchase entity Green Office Park LLC mortgaged the property to IberiaBank for $1.85 million.