Prime Estero Parcel Sold to Developer

Continental 376 Fund, LLC, recently purchased 14 acres adjacent to Miromar Outlets in Estero from University Highland Limited Partnership (UHLP) for an undisclosed amount.

Continental 376 Fund is a Wisconsin- based apartment developer that plans to add 203 apartments to the 260 apartments it previously built on an adjacent 18-acre parcel of the University Highland Property.

Remaining entitlements within the 208-acre property owned by UHLP include 150,000sf of office space, 100,000sf of retail space and 200 hotel rooms. Currently, 169 acres have closed or are under contract, according to Al Moscato, a partner with Naples-based NM Development Group, a full-service real estate development, investment and advisory firm that managed the closing.

Moscato says that the UHLP property, which is bounded by Estero Parkway, I-75 and Ben Hill Griffin Parkway, is in a prime position to capitalize on Estero’s rapid growth.

For more information, visit www. NMDev.com or call (239) 234-5941.