Broker Michael F. Curran with Fischler Property Co. recently negotiated the sale of a five-story, Class-A, multi-tenant office building at 2503 Del Prado Blvd. just south of the Midpoint Bridge and Veterans Parkway in Cape Coral.
The 51,000+sf building was built in 1990 and includes a four-lane bank drive-thru. Bank United had occupied the first floor until early 2015. The largest remaining tenant is Avalon Engineering.
The new owner is Royal Palm Coast Holdings, Inc, a Florida corporation representing Royal Palm Coast Realtors Association (Fort Myers, Cape Coral and Ft Myers Beach) and its 6,000 members.
Curran says that after the bank moved out, the prominently positioned office building lost its identity and languished. “This sale will bring needed renovations and a new identity to the building,” he adds. “That momentum will be positive for the entire area.”
In other company news, Phil Fischler recently negotiated the sale of 13.65 acres of entitled land at 3480 Pine Ridge Road, just west of I-75 in Naples. Naples One, LLC, purchased the property for $6.975 million from C1 Bank of St. Petersburg.
Fischler, who listed the property, initially began consulting with the bank in 2011 on its REO portfolio and helped complete the zoning and governmental approvals on the property. He also led such value-add initiatives as the installation of infrastructure, roadway improvements and turn lanes along adjacent Pine Ridge Road, and ultimately developed a disposition strategy that resulted in the property’s sale.
Fischler Property Co. is a commercial real estate firm focused on investment, infill and redevelopment across Southwest Florida’s urban centers. For more information, visit fischlerco.com or call (239) 895-1060.