Loading
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.
The neighborhood shopping center is located at the southeast corner of U.S. 41 and Bonita Beach Road. It features three buildings: a large main building with the central parking lot facing Tamiami Trail and two smaller buildings facing Bonita Beach Road.
Anchor tenants include Bealls Outlet, Winn-Dixie, LA Fitness and a Goodwill Super Store.
DRA Advisors had not replied to a request for comment prior to deadline. According to its website, DRA's funds own a total of 39 properties in Florida, including 16 office, five industrial, 11 retail and seven multifamily properties.
Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.
