News & Notes

Builder planning 255 homes pays $6.5M for 265 acres in Pasco

In the week's top commercial real estate news, another Fort Myers Beach property hits the market, a Polk County Chipotle is sold, and a Palmetto apartment community brings $55 million.


  • By Louis Llovio
  • | 5:00 a.m. August 25, 2024
  • | 0 Free Articles Remaining!
A California homebuilder plans about 255 homes in Pasco County.
A California homebuilder plans about 255 homes in Pasco County.
Image courtesy of Eshenbaugh Land Co.
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Naples/Fort Myers/Charlotte 

Shop & save: Lee County Commissioners agreed last week to buy 40.56 acers in Fort Myers and two other parcels for conservation. The biggest piece of land is east of Moody Road on the Caloosahatchee River. The county is paying $7.9 million plus closing costs. The purchase was for the county’s Conservation 20/20 Land Acquisition program. The program, approved by voters in 1996 and reaffirmed with 86% of the vote in 2016, was created to buy land for “resource-based opportunities” including hiking, birdwatching and nature studies. It also helps the county to protect drinking water, protect areas from flooding and provide wildlife habitats. The program currently has 31,444 acres. This particular 40.56-acre parcel has some frontage on Hancock Creek along with a known bald eagle nest, as well as deer and rabbits on the site, the county says in a statement. Commissioners also agreed to buy two other parcels totaling 7.5 acres in the Corkscrew Regional Ecosystem Watershed for $11,400. Lee’s Conservation Land Acquisition and Stewardship Advisory Committee recommend all the buys. 

Sanibel Captiva Community Bank has bought land on Fort Myers Beach to build a new branch.
Courtesy image

More FMB sales: Another piece of property has changed hands on Fort Myers Beach. The buyer this time is Sanibel Captiva Community Bank, which bought a combined gulf-side parcel at 2670 and 2680 Estero Blvd. The bank did not disclose the sale price, but Lee County property record show it paid $1.79 million. This deal comes on the heels of the sale of the former Plaka restaurant building at 1001 Estero Blvd. It sold last month to a Dania Beach LLC for $3.65 million. A few days later, two other parcels — 1021 Estero Blvd. and 1010 Estero Blvd. — were listed for a combined $17.5 million. The property the bank bought is south of the other two, which are in the barrier island’s commercial center. The previous owners paid $600,000 for it in 2007. Sanibel Captiva is planning to build a new branch on 0.34-acre site and is already working with town officials. Construction is expected to begin early next year and for the branch to open in 2026. As it prepares to build this branch, the bank is also working to replace its branches at 15975 McGregor Blvd. in Fort Myers and 1019 Periwinkle Way in Sanibel. Both suffered significant damage during Hurricane Ian. It currently has five branches open.


 

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