Lighting First takes over A PartyWorld building

BUYER: SGDI Investments LLC (principals: Gregory and Steven Adams), Bonita Springs

SELLER: The Gleason Four Inc.

PROPERTY: 12879 S. Cleveland Ave., Fort Myers

PRICE: $1.1 million

PREVIOUS PRICE: $987,500, July 1993

LAW FIRM ON DEED: Goede & Adamczyk PLLLC, Naples

PLANS, DESCRIPTION: Greg and Steven Adams purchased a 12,056-square-foot A PartyWorld store for $1.1 million.

The price equated to $91 per square foot.

Thomas Birch of The Birch Co. Commercial Realtors represented the seller and Patrick Fraley of Investment Properties Corp. represented the buyer.

“A PartyWorld was wanting to downsize,” Birch says. “They're planning to have a smaller operation somewhere else.”

The Adamses plan to operate the building as a Lighting First store.

The purchase entity SGDI Investments LLC mortgaged the property to IronStone Bank for $1.05 million.

Founded in 1984, Lighting First currently operates stores in Naples and Bonita Springs.