$19.8 million price drop for 5,500-acre Collier property

Naples/Fort Myers

Something to sleep on: City Mattress is opening a 10,000-square-foot store in Cape Coral at 915 N.E. 15th Place. The store opens Sept. 1, about 15 months after the Bonita Springs retailer bought the 1.26-acre plot at Cape Coral Commons, the new shopping center development at Pine Island Road and Del Prado Boulevard. This is City Mattress’ eighth store in Southwest Florida. It has nine others in the state, all clustered on the east coast of Florida, between Jensen Beach and Pembroke Pines. The chain, which traces its roots to Buffalo, New York, has 10 stores in New York. The 13-acre Cape Coral Commons shopping center is being developed by Thomson Thrift out of Indiana. Among its current tenants are First Watch, Mission BBQ, Tire Kingdom and Vision Works. 

Deep discount: The price for a 5,509-acre piece of land in Collier County called Gopher Ridge has dropped by nearly $20 million. SVN Saunders Ralston Dantzler, the listing agent, said last week that the asking price for the property, which is just north of Immokalee, and immediately northwest of the Immokalee Airport, was reduced from $57.8 million to $38 million. Gopher Ridge first went on the market in the spring and is in the heart of the county’s fruit and vegetable farmland. According to the Lakeland firm, the property, which has historically produced high-yielding round oranges for juice production, is primed for “future residential development with 1,763 acres with a (future land use) of 4-8 units per acre and large acreage land banking.”