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Business Observer Friday, Oct. 14, 2005 16 years ago

Real Estate Briefs (Lee/Collier)

Argosy Advisors Buys Riverfront Acres on State Road 31County, state buy Estero property for preservationShopping center sold, possibly for financing purposesNonprofit buys Fort Myersnursing home from countySouth Florida developer buys 39 acres in Fort MyersCentex HOMES to build at Verandah
by: Adam Hughes Staff Writer

Real Estate Briefs (Lee/Collier)

Argosy Advisors Buys Riverfront

Acres on State Road 31

Buyer: Caloosa Landings LLC

Seller: E.W. Weathers, trustee

Property: Land off State Road 31, northeast Lee County

Price: $8.15 million

Law firm on deed: Henderson, Franklin, Starnes & Holt, PA, Bonita Springs

Plans, description: Argosy Advisors, a real estate development company headquartered in Edina, Minn., purchased about 23 acres along the Caloosahatchee River off State Road 31 in northeast Lee County. "We're still in our planning and development phase, so we're not sure what we'll do with that property," says Jeff Heverling, director of finance and administration with Argosy in Fort Myers. The company's plans could be ready within three to six months, he says.

The company is a developer of luxury single-family and multi-family residential units. Projects in Lee County include Rails End in Fort Myers and Serrano in Bonita Springs.

County, state buy Estero

property for preservation

Buyer: Lee County and Board Trust Internal Improvement

Seller: Nola P. Boomer and John H. Boomer

Property: 3601 and 3861 Broadway West, Estero

Price: $7.25 million

Law firm on deed: Joseph R. Boyd, Tallahassee

Plans, description: Lee County and the State of Florida's Department of Environmental Protection purchased 104 acres in Estero from the Boomer family for preservation purposes. Nola Boomer has a right to use 25.5 acres, which includes a home, until her death. The land fronts the Estero River.

The county is working on a master plan for the property but details are not yet available, says Robert Clemens, land acquisition manager for Lee County.

Shopping center sold, possibly for financing purposes

Buyer: Promenade Real Property LLC

Seller: Promenade at Bonita Bay Inc.

Property: 26811-841 S. Bay Drive, Bonita Springs

Price: $17.5 million

Law firm on deed: Bond, Schoenek & King, Naples

Plans, description: Promenade Real Property purchased a 380,395-square-foot shopping center in Bonita Springs from Promenade at Bonita Bay, property records show. Both the buyer and the seller list the same address as The Lutgert Cos. of Naples. An official with Lutgert declined to discuss the transaction except to say that it was made for financing purposes.

Nonprofit buys Fort Myers

nursing home from county

Buyer: Shady Rest Foundation

Seller: Lee County

Property: 2310 N. Airport Road, Fort Myers

Price: $5.7 million

Firm on deed: Lee County Lands Division, Fort Myers

Plans, description: Lee County sold a 180-bed skilled-nursing facility to Shady Rest Foundation, a Fort Myers-based nonprofit organization. Fort Myers attorney Anne Dalton, the foundation's chair, president and director, says the county turned over operations of the facility to the foundation five years ago and recently sold the facility to get out of the nursing-home business.

South Florida developer

buys 39 acres in Fort Myers

Buyer: Winkler Holdings Forty Acres LLC

Seller: Royal Public Fort Myers I LLC

Property: 3851 Colonial Boulevard, Fort Myers

Price: $12.5 million

Law firm on deed: Knott, Consoer, Ebelini, Hart & Swett, PA, Fort Myers

Plans, description: Winkler Holdings Forty Acres purchased about 39 acres between Colonial Boulevard and Winkler Avenue in Fort Myers. Boca Raton attorney Ronald Lewis, the company's registered agent, declined to comment on the transaction. Corporate records show Sam Jazayri, a South Florida developer who is based in Pembroke Pines, is an officer of the company. Jazayri could not be reached for comment. Winkler Holdings Forty Acres mortgaged the property to Community Bank of Broward for $4 million.

Centex HOMES to build at Verandah

Buyer: Centex Homes

Seller: Verandah Development LLC

Property: 40 lots at Verandah in northeast Lee County

Price: $2.25 million

Law firm on deed: Tarpon Title Services LLC, Bonita Springs

Plans, description: Centex Homes plans to build 80 single-family homes at the Lakeview community in Verandah, a Bonita Bay Group residential development located off State Road 80 near Interstate 75. Construction is scheduled to start this month and prices will range from about $350,000 to $450,000. The homes will range in size from 1,641 square feet to 2,206 square feet.


• Newco Investments Inc. bought a 30,000-square-foot industrial building at 11950 Amedicus Lane, Fort Myers, from Crystal Prime Inc. for $2.55 million. Robert Johnston and Jerry Messonier of CB Richard Ellis represented the seller and Jim Garinger of VIP Commercial represented the buyer.

• Four K LLC bought 11 acres at 536 Evergreen Road, Fort Myers, from Kenneth and Cheryl Nagorsen, trustees, for $1.8 million. John and David Pegg, of Coldwell Banker Commercial NRT represented the sellers.

• Todd Turner and Samir Cabrera bought a 7.52-acre commercial site at 4175 Fowler St., Fort Myers, from Bill Branch Chevrolet for $1.7 million. Cabrera, of D'Alessandro & Woodyard, represented the buyer and Dan Sinclair of Sinclair Inc. represented the seller.

• Zong Xing Tang & Cindy Zhang TIC bought an 11,848-square-foot industrial building at 11741 Metro Parkway, Fort Myers, from Southwest Florida Real Estate for $1.55 million. Scott Dunnuck and George Atkinson, both of CB Richard Ellis, represented the seller. A.J. Jiang of Priceless Realty represented the buyer.

• STR & Associates bought 3.21 acres at 2351 and 2371 Crystal Drive, Fort Myers, from Rosengator Properties for $1.2 million. Kevin Rosenthal and Samir Cabrera of D'Alessandro & Woodyard represented the buyer. Frank D'Alessandro and Tom Woodyard represented the seller.

• Tuscan Pointe Development LLC bought 19.6 acres at 1298 Barrett Road, North Fort Myers, from Thomas Bennett, Jr., for $1 million. Cliff Wiersma of Coldwell Banker Commercial NRT represented the buyer and Mike Bennett of Sellstate represented the seller.

• HornerXpress Gulf Coast leased 13,280 square feet of office and warehouse space at 2128 Andrea Lane, Fort Myers, from Thomas and Karen Sabella. The company supplies pool and spa equipment to pool-maintenance professionals and this is its first Fort Myers location. Connie Barbour and Bill Mankin of VIP Commercial-TCN Worldwide represented the tenant and John Kremski of D'Alessandro & Woodyard represented the landlord.

• First Merchant Payment Systems leased 8,316 square feet of office space in University Park at 12800 University Drive, Suite 410, Fort Myers, from Simplex Grinnell LP. Tom Pepitone of D'Alessandro & Woodyard negotiated the transaction

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