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BUYER: Allllb Holdings LLC (principals: Louis Bruno and Larry and Arby Lipman), Bonita Springs
SELLER: CSPE012 LLC
PROPERTY: 28731 S. Cargo Court, Bonita Springs
PRICE: $925,000
PREVIOUS PRICE: $356,700, November 2001
LAW FIRM ON DEED: Conroy Conroy & Durant PA, Naples
PLANS, DESCRIPTION:
Louis Bruno of Bruno Air Conditioning and Larry and Arby Lipman purchased a 17,063-square-foot flex building for $925,000.
The price equated to $54 per square foot. That figure is close to the two-year average price per square foot for industrial space ($50) in Southwest Florida, according to the CoStar Group.
The 10-unit building occupies a 1.3-acre parcel in Greyhound Industrial Park. Its primary tenants include HVAC Supply Inc., Hilton Moving and Storage and Global Security Technologies. The building had 8,000 square feet of vacant space that Bruno Air Conditioning will be occupying.
“This gives them room to expand,” says David Dorle, president of Dorle Communications Inc., which is representing Bruno Air Conditioning. “It also allows them to leverage their cash flow with the income from the other tenants. The location is a lot better and more centrally located. They plan on moving in in late June.”
Bruno Air Conditioning is leasing its current location at 4395 Corporate Square, Naples.
William Gonnering and Christine McManus of Investment Properties Corp. handled the transaction.
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