BUYER: Dunbar Shopping Center LLC (principals; Sylvio Savidis, Mitchell Kaminksy and Lydia Westdickenberg, Hollywood
SELLER: AAA Investment Group I LLC
PROPERTY: 3637 Dr. Martin Luther King Jr. Blvd., Fort Myers
PRICE: $1.25 million
PREVIOUS PRICE: $2.4 million, January 2005
LAW FIRM ON DEED: Martin Zucker PA, Fort Lauderdale
Three Southeast Florida investors, Sylvio Savidis of Hollywood, Mitchell Kaminksy of Boca Raton and Lydia Westdickenberg of Hallandale Beach, purchased the 45,606-square-foot Dunbar Plaza for $1.25 million.
The price equated to $27 per square foot. That figure is lower than the two-year average price per square foot for retail space ($144) in Southwest Florida, according to the CoStar Group.
Built in 2001 and renovated in 2006, the center features five retail spaces. The sale also included a 218-space parking lot. The development is located at the northeast corner of Dr. Martin Luther King Jr. and Sabal Palm boulevards.
The purchase entity, Dunbar Shopping Center LLC, mortgaged the property to Fort Myers Properties LLC for $1 million.