Living Waters Community Church buys, renovating former Albertsons

BUYER: Living Waters Community Church Inc. (principals: Jeff Cecil and William Ivie), Bonita Springs
SELLER: Road Inc.
PROPERTY: 22088-22110 S. Tamiami Trail, Estero
PRICE: $4.4 million
PREVIOUS PRICE: $4.2 million, April 2002
LAW FIRM ON DEED: Peterson & Myers PA, Lakeland

PLANS, DESCRIPTION: Living Waters Community Church purchased the 66,000-square-foot Williams Place Shopping Center for $4.4 million.

The price equated to $67 per square foot. That figure is less than the two-year average price per square foot for retail space ($140) in Southwest Florida, according to the CoStar Group.