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Frequent partners Seagate Development Group and Barron Collier Cos. have teamed up to buy a 175-acre tract in Lee County for $6 million.
The duo are formulating a plan to develop the property — one of the largest undeveloped parcels in Bonita Springs — into perhaps a mix of residences that would begin construction early next year.
Matt Price, Seagate’s CEO and one of three founding partners of the firm, says the company is currently strategizing internally and with Naples-based Barron Collier to determine a plan for the 14780 Bonita Beach Road SE land.
“There are a lot of different directions that we could go in, and so we’re carefully analyzing each and doing our due diligence,” Price says.
Previously, Seagate and Barron Collier have partnered on the 10-acre Hill Tide Estates residences on Boca Grande; a trio of CubeSmart self-storage facilities in Lee and Collier counties; and the Eastlinks Business Park in Fort Myers.
“Seagate has been a great joint venture partner of ours,” says Barron Collier Chief Investment Officer Brian Goguen, in a statement. “They have talented people in their organization who are able to provide multifaceted services.
“The Bonita Beach Road property is in a great location, close to all that Southwest Florida has to offer,” Goguen adds.
Fort Myers-based Seagate’s other residential projects in Southwest Florida include Talis Park, Esplanade Lake Club, Quail West, Hill Tide Estates, Windward Isle and Miromar Lakes Beach & Golf Club.
In the past three years, six-year-old Seagate has become known more for its commercial headquarters development for Scotlynn USA Division Inc., NeoGenomics Inc., EnSite, TerraSmart and Conditioned Air, among others.
Barron Collier is among Southwest Florida’s largest landowners and landlords.
Most recently, it is continuing as a joint venture partner on the master-planned community of Ave Maria in Collier County — one of the best-selling residential communities nationwide in 2020 — and it is working on developing the 55-acre Founders Square mixed-use project, in Naples.
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