American Realty Capital Properties buys new Immokalee Family Dollar

By Business Observer Staff
| 10:00 a.m. December 12, 2014
| 0 Free Articles Remaining!

Tampa Bay-Lakeland

BUYER: ARCP FD Portfolio XIV LLC (American Realty Capital Properties Inc.), Phoenix
SELLER: HRES Immokalee LLC
PROPERTY: 225 New Market Road W., Immokalee
PRICE: $1.87 million
PREVIOUS PRICE: $491,300, December 2013

PLANS, DESCRIPTION:
Phoenix-based real estate firm American Realty Capital Properties Inc. purchased a 8,320-square-foot retail building for $1.87 million.

The price equated to $225 per square foot. That figure is higher than the two-year average price per square foot for retail space ($144) in Southwest Florida, according to the CoStar Group.