DRA Advisors company buys Springs Plaza center

BUYER: G&I VIII Springs Plaza LLC, New York City
SELLER: Bonita Beach 41 LLC, RRR Springs Plaza LLC and KJR Springs Plaza LLC
PROPERTY: 8951 Bonita Beach Road S.E., Bonita Springs
PRICE: $23.7 million
PREVIOUS PRICE: $15.4 million, May 2004
LAW FIRM ON DEED: Gunster Yoakley & Stewart PA, West Palm Beach

PLANS, DESCRIPTION:
An affiliate of New York City investment adviser DRA Advisors LLC purchased the 199,922-square-foot Springs Plaza shopping center for $23.7 million.

The price equated to $119 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.