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BUYER: PDQ FM Cleveland Propco LLC (manger DB-MVP LLC and officers: Nicholas Reader, David Mallitz, Geza Henni and James Palermo), Tampa
SELLER: Dukes Steak House Ft Myers Inc.
PROPERTY: 12499 S. Cleveland Ave., Fort Myers
PRICE: $1.33 million
PREVIOUS PRICE: $650,000, December 2008
LAW FIRM ON DEED: Dale W. Vash Esq., Tampa
PLANS, DESCRIPTION:
Tampa-based MVP Holdings purchased a 5,244-square-foot former Steak and Ale restaurant for $1.33 million.
The price equated to $253 per square foot or $1.01 million per acre. That per square foot figure is higher than the two-year average price per square foot for retail space ($144) in Southwest Florida according to the CoStar Group.
The new owner plans to demolish the building to construct a new PDQ restaurant on the 1.26-acre site. The new building will have about 4,000 square feet of space.
“We are just excited to be part of the rebirth of Lee County,” says Jeffrey Kamis, chief marketing and PR officer for PDQ. “There's a lot of exciting development; it's a good time to be part of that growth. The gentleman [Scot Chausse] that's going to be running that restaurant has been down there in the community for 15 years.”
The new restaurant is scheduled to open toward the end of the year or early 2015. It will create 70 to 80 full- and part-time jobs.
As a chain PDQ has 25 open restaurants and another 10 to 12 restaurants scheduled to open this year.
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