Texas' Archon Group buys Forum building, land

BUYER: MLQ-ELD LLC, Irving Texas

SELLER: Forum Office Park I LLC

PROPERTY: 9160 and 9180 Forum Corporate Parkway, Fort Myers

PRICE: $11.5 million

PREVIOUS PRICE: $8.98 million, November 2006 (includes additional parcels)

LAW FIRM ON DEED: Arent Fox LLP, Washington, D.C.

PLANS, DESCRIPTION: Irving, Texas-based investment management firm Archon Group LP purchased a 60,633-square-foot office building in Forum Corporate Park and an adjacent 5.78 acres of vacant land for $11.5 million.

The price equated to $190 per square foot of the three-story building, or $981,045 per acre for the two parcels.

The 3-year-old building is best known for housing Rasmussen College, which also was its first tenant. The vacant site is designed for the future development of an 80,000-square-foot office building.

Officials for both Archon Group and the seller, Songy Partners Realty Ltd., declined to comment on the purchase.

An affiliate of The Goldman Sachs Group Inc., Archon currently manages real estate investments totaling more than $59.1 billion in North America, Asia and Europe. It has U.S. locations in Dallas, Los Angeles, Washington, D.C., Chicago, Atlanta, and Boston.