Sunrise limited liability firm buys Palm Avenue marina land

BUYER: Pelican Point at Goodland LLC (principals: James Inglis), Sunrise

SELLER: Palmer Ranch LLC

PROPERTY: 613 Palm Ave. E., Marco Island

PRICE: $1.23 million

PREVIOUS PRICE: $725,000, November 2000

LAW FIRM ON DEED: Woodward Pires & Lombardo PA, Marco Island

PLANS, DESCRIPTION: A limited liability company led by Jim Inglis of Sunrise purchased 1.68-acre commercial parcel for $1.23 million.

The price equated to $729,167 per acre.

Inglis, CEO of Sunrise-based Hydraulic Supply Co., declined to comment on the acquisition.

The property, which has frontage on Coon Key Pass, also included federal state and local permits for the development of a 19-dock marina, according to the real estate research firm CoStar Group. The sale reportedly includes engineering drawings for 11 60-foot, one 30-foot and seven 25-foot docks.

The 64-year-old Hydraulic Supply Co. distributes hydraulic and pneumatic components and systems, hose, fittings and connectors, electronic systems and accessories. It focuses its distribution on Florida, Georgia, Tennessee, the Caribbean and Central America.

The purchase entity Pelican Point at Goodland LLC mortgaged the property to Aero Hardware & Supply Inc. for $400,000.