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Cole Real Estate Investments buys Bonita Springs Family Dollar

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  • | 10:48 a.m. February 28, 2014
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BUYER: Cole FD Portfolio VII LLC (Cole REIT Advisors III LLC), Phoenix
SELLER: Boos Fund 2-41 Bonita Springs LLC
PROPERTY: 26875 Old 41 Road, Bonita Springs
PRICE: $1.78 million

LAW FIRM ON DEED: Bryan J. Stanley PA, Clearwater

BUYER: Boos Fund 2-41 Bonita Springs LLC
SELLER: Family Dollar Stores of Florida Inc.
PRICE: $1.65 million
PREVIOUS PRICE: $595,000, March 2013

PLANS, DESCRIPTION: Cole Real Estate Investments Inc. purchased an 8,345-square-foot Family Dollar store for $1.78 million.

The price equated to $214 per square foot. That figure is higher than the two-year average price per square foot for retail space ($140) in Southwest Florida, according to the CoStar Group.

The discount store was built in 2013.

Cole, who owns several net leased investments, recently was acquired by American Realty Capital Properties, creating the largest publically traded net-lease REIT. The company owns $21.5 billion worth of real estate, of which 26.5% are located in the Southeast. The combined company owns 29 other Family Dollar locations in Florida, according to its website, including in St. Petersburg, Tampa, Fort Myers and Plant City.


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