Medical Xpress of S.W. FL buys Drew Circle building

BUYER: Medical Xpress of S.W. FL Inc. (principal: John Ban), Fort Myers

SELLER: Gulf Coast Bank & Trust Co.

PROPERTY: 7899 Drew Circle, Fort Myers

PRICE: $1.07 million

PREVIOUS PRICE: $361,900, August 2004

LAW FIRM ON DEED: Liebler Gonzalez & Portuondo PA, Miami

PLANS, DESCRIPTION: Medical Xpress of S.W. FL Inc. purchased a 29,876-square-foot industrial building in Alico Commerce Park for $1.07 million.

The price equated to $36 per square foot.

Built in 2006, the vacant distribution building features office and warehouse space, fenced and paved outdoor storage and four grade-level and two dock-high doors. The building's seller Gulf Coast Bank & Trust Co. acquired the facility in lieu of foreclosure in August.

The medical-supply distributor plans to use the building to consolidate its administrative office and storage from three smaller leased locations. The firm needs to relocate its heavy equipment, paint the building and make other cosmetic changes, before it can move in. It anticipates moving by the first of the year.

Medical Xpress will continue to operate its retail store.

Jerry Messonnier, Bob Johnston and Derek Bornhorst of Lee & Associates' Naples-Fort Myers office handled the transaction.

Medical Xpress mortgaged the property to Wells Fargo Bank NA for $997,300.