Steelbridge Capital buys Pelican Bay Executive Center

BUYER: Steelbridge Pelican Bay LLC (Series of Agre Steelbridge JV LLC), Miami
SELLER: PBEC HMA Inc.
PROPERTY: 5801-5811 Pelican Bay Blvd., Naples
PRICE: $33.65 million
PREVIOUS PRICE: $25.8 million, August 2002
LAW FIRM ON DEED: Bradley Arant Boult Cummings LLP, Nashville

PLANS, DESCRIPTION:
Chicago-based Steelbridge Capital LLC purchased the 168,165-square-foot Pelican Bay Executive Center for $33.65 million.

The price equated to $200 per square foot. That figure is higher than the two-year average price per square foot for office space ($131) in Southwest Florida, according to the CoStar Group.