FORT MYERS — A real estate investment firm with a history of building multifamily projects has bought a 70-acre Crossroads Commerce Center in Fort Myers.
Elevate Partners paid $21.9 million for the property at 1100 Colonial Blvd. According to a press release from Berger Commercial Realty, which represented Elevate, “plans for the newly purchased site include a commercial, multifamily, mixed-use or retail development, but the project is still under review.”
The center comes with all approvals in place allowing for 355,000 square feet of commercial and related uses, according to Berger. The property has nine outparcels along Colonial Boulevard.
Elevate does disclose much information on its website, listing only four projects, three in Florida and one in Charleston, South Carolina. But, as most savvy people know, websites are not always accurate reflections of reality.
What Elevate does show on its site is several high-dollar projects including 4 West Los Olas, a 26-story apartment community in Fort Lauderdale and nearly 12,500 square feet of retail finished in 2019, and Apok Lofts, a community of “town home-style apartments” in Boca Raton finished in 2018.
Bill McGee III, senior vice president at Berger, says his firm has worked with Elevate since “the company’s inception on identifying various development sites projects around” Florida.