Stock Development buys, building Hidden Harbor

BUYER: SD Hidden Harbor LLC (principal: Brian Stock), Naples

SELLER: Hidden Harbor Preserve Inc.
PROPERTY: a portion of Hidden Gateway Boulevard, Fort Myers
PRICE: $7.56 million
PREVIOUS PRICE: $8.55 million, December 2004 (includes multiple parcels)
LAW FIRM ON DEED: Coleman Yovanovich & Koester PA, Naples

PLANS, DESCRIPTION: Naples-based Stock Development purchased 54.69 acres southwest of Tamiami Trail and south of Alico Road for $7.56 million.

The price equated to $138,234 per acre.

Stock Development plans to develop the vacant land into a single-family community, called Hidden Harbor, with 72 home lots.

The developer/homebuilder plans to offer three- and four-bedroom homes with 2,200 to 3,500 square feet of living space.

In an email to the Business Observer, Claudine Leger-Wetzel, the company's vice president of sales and marketing, says the company was attracted by the water access and frontage on the site and the South Fort Myers location, which it believes appeals particularly to boaters.