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BUYER: SD Estero Crossings LLC (manager: Brian Stock), Naples
SELLER: JTAD Estero LLC
PROPERTY: 10500 Corkscrew Road, Estero
PRICE: $5.81 million
PREVIOUS PRICE: $7.5 million, August 2005
LAW FIRM ON DEED: Henderson Franklin Starnes & Holt PA, Fort Myers
PLANS, DESCRIPTION:
Naples-based Stock Development purchased 42.97 acres of vacant Estero land for $5.81 million.
The price equated to $135,094 per acre.
The property, which also has frontage on Corkscrew Woodlands Boulevard, is best known under the proposed development name of Estero Crossing. It was previously proposed for a development 310,000 square feet of commercial space. The land is zoned CPD (Commercial Planned Development).
The site is located near Estero High School, Shadow Wood Country Club, Copperleaf Golf Club and Stoneybrook Golf Club.
Jim Garinger and Fred Kolb of Colliers International Southwest Florida handled the transaction.
“That property has been on and office the market for the last 10 to 12 years,” Garinger says. “[The prior owners] decided to pull it off the market the last three to four years, but as values started to come back to their expectations they decided to put it back on the market at about the same time that Hertz announced it was coming to Estero.”
Stock Development had not responded to requests for comment as of deadline.
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