Prime acreage site in North Fort Myers sold
A parcel on North Tamiami Trail in North Fort Myers that may turn into a light industrial development on the more than seven acres.
R.B.E. Investments of Southwest Florida, Inc. purchased the 7.24-acre site between De Navarra Parkway and U.S. 41 for $550,000. Cushman & Wakefield CEO and Principal Broker Gary Tasman and Senior Director Shawn Stoneburner represented the seller in the sale at 17501 N. Tamiami Trail.
Stoneburner said the property has to go through a rezone, mitigation, and lots of approval before anything takes place. He said it will take every bit of a year to two years for development.
Tasman said the sale was very straight forward, an old land trust partnership ready to monetize as it reached the natural investment cycle.
“They hired us to market the property for them. We succeeded with a strong offer in a short amount of time because of marketing capabilities,” he said. “Basically, the client came to us through a combination of our aggressive position in the market and our relationships.”
Tasman said they first wanted to identify what they felt they could market and the urgency to monetize in a reasonable amount of time to get the highest price.
“We put our research team to work to research the market and understand the property and whether it should be positioned to monetize in its market,” he said. “It’s a very detailed process in identifying the property, understanding its features and benefits and capabilities of what it could be, and understanding the active listing to where it could be priced to attract buyers.”
Due to the research, Tasman said they knew exactly where to target and were able to identify several qualified buyers in a short amount of time creating competition at a very good price. The contract was done in 60 days.
He said the property will most likely be a flex type of property where it would attract tenants from the home building industry and tenants that serve the community in terms of homeowners and renters in proximity.
“We anticipate companies like insurance companies, HVAC, plumbers and electricians – people that are going to serve the population that continues to grow in the area,” Tasman said.
He said with all the activity and density in residential growth in North Fort Myers they are anticipating many more projects like this coming out of the ground in the next couple of years.
To reach MEGHAN BRADBURY, please email news@breezenewspapers.com