A 61.4-acre development site along U.S. 41 at Alico Road sold for $20.45 million to Trailhead Multifamily, LLC, an affiliate of Ryan Companies US, Inc.
The property includes land on both sides of Alico Road and is approved for up to 350 apartment units, 200,000sf of commercial space and a hotel with up to 150 rooms. A 47-acre section north of Alico Road is planned for mixed-use development, while a separate 14-acre parcel to the south is designated for future retail.
Roughly half of the northern acreage will remain preserved, including approximately 20 acres for watershed enhancement and conservation.
The transaction was brokered by Alex Henderson, CCIM, and Max Molloy, CCIM, of LSI Companies, along with Michael J. Frye, CCIM, of REMAX Realty Group | Frye Commercial Group. The deal included termination of a prior Development of Regional Impact agreement to allow updated zoning and site planning.
Based in Fort Myers, REMAX Realty Group is a full-service real estate brokerages. REMAX Realty Group has both Commercial and Residential Divisions, consisting of 120+ agents and continues to grow. Visit MFrye.REMAX.com to learn more.
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