Storage space: A 16,553-square-foot storage facility in Naples has sold. According to the Fort Myers commercial real estate firm LQ Commercial, which represented the buyer, the property at 8243 Key Royal Circle was bought by an LLC named All Purpose Storage Naples. It paid $1.06 million. Collier County records list All Purpose’s address as being in Illinois. The seller is GL and L Holdings, which paid $800,000 for the facility in 2021. The records show the 111-unit, one-story facility was built in 2002 and sits on 0.83-acres.
Leasing up: Construction has finished, and leasing has started at a Fort Myers apartment complex. Wisconsin-based Continental Properties has just completed work on the 288-unit community, Springs at Daniels Parkway, and is taking applications. The apartments are at 9080 Arabian Drive just off of Daniels Parkway and about two miles from Interstate 75. Continental already operates 16 properties in Florida, including the recently opened 216-unit Springs at West Port in Port Charlotte and an existing Fort Myers property, Springs at Six Mile Cypress. Another complex, Springs at Cape Coral, is under construction. As for the new Fort Myers complex, it includes one-, two- and three-bedroom units ranging from a 560-square-foot studio for $1,695 per month to a 1,263-square-foot three bedroom for $2,510 per month. In all, Continental has developed more than 125 properties in 19 states.
Office off load: A St. Petersburg office building has been bought by an LLC with a local address. Pinellas County property records show the company paid $8.75 million for the property at 100051 5th S. N. The previous buyer, an LLC, bought the property in April 2022 for $7.9 million. A profile on LoopNet shows the two-story, 50,931-square-foot building was first built in 1978. A brochure attached to the profile describes it as a “stately two-story brick building with steel frame construction” and “extensive window views surrounding the building perimeter as well as along the full interior courtyard.”
Bus line: A development team including J Square Developers and Backstreets Capital is planning to build a townhouse community on the corner of Central Avenue and 64th Street in St. Petersburg. The community will feature nine new townhomes spread across three buildings. Each three-bedroom unit will be 2,040 square feet and come with a two-car garage as well as three full — and a half — bathrooms. Prices will start in the $700,000s. Strum Place, as it will be called, is within a couple of blocks of two SunRunner stops. The rapid-transit bus service launched last year. Along with the townhomes, the developers plan to keep the adjacent Strum House intact and use it as an office building. The two-story house was built by the Strum family in 1924, the developers say in a statement announcing the project. The two companies have worked together before on townhouse projects in St. Pete and Tampa. Construction is set to begin early next year and to last about 12 months.
Cancer care: Sarasota Memorial Hospital broke ground last week on a new cancer pavilion. The seven-story, $220 million building is being constructed on Waldemere Street, across the street from the hospital’s oncology tower, which opened in 2021. According to SMH, the 200,000-square-foot facility “will support an entire continuum of cancer care — from prevention, screening and diagnosis to treatment, clinical trials, survivorship care and lifetime support" — in the community. Among the offerings will be diagnostic imaging suites with CT and MRI technology; medical, surgical and radiation oncology physician practices; integrative care clinics; and an expanded breast health center with mammography, ultrasound, stereotactic and nuclear medicine technology. The pavilion will be the third facility to make up the Jellison Cancer Institute at SMH’s Sarasota campus. It is expected to open in late 2025.
Gas & go: A Shell gas station and convenience store in Sarasota has been sold. The station’s land at 2525 N. Tamiami Trail near Dr. Martin Luther King Way and Ringling College was bought for $3.6 million. According to Sarasora County property records, the buyer was an LLC belonging to Automated Petroleum in Brandon. The company is a wholesaler for several major gasoline retailers, including Mobil, Sunoco, Chevron and Marathon, according to its website. In all, the site says, it owns more than 300 gas stations in Florida. The previous owner was an LLC with a Clearwater address that paid $1.7 million for the station in 2017.
If you have news, notes or tips you want to pass along, contact LLLov[email protected]. Or you can text or call 727-371-6944.
Louis Llovio is the commercial real estate editor at the Business Observer. Before going to work at the Observer, the longtime business writer worked at the Richmond Times-Dispatch, Maryland Daily Record and for the Baltimore Sun Media Group. He lives in Tampa.