McGuire Development Co. buys 23 acres in Naples

BUYER: Airport Pulling Orange Blossom LLC (principal: F. James McGuire), Buffalo, N.Y.

SELLER: Buckley DJMC LLC

PROPERTY: 7501 Airport Road N., Naples

PRICE: $7.41 million

PREVIOUS PRICE: $5.91 million, May 2005

TITLE FIRM ON DEED: South Florida Trust & Title, Bonita Springs

PLANS, DESCRIPTION: McGuire Development Co. purchased 23 acres north of Orange Blossom Drive for $7.41 million.

The price equated to $322,228 per acre.

Jim McGuire, CEO of McGuire Development, says the firm has been following the parcel for several years starting back when it was Buckley Nursery. The company also had some limited involvement in the plans for the property over the years.

“We felt it was a great piece of property and we are hoping that Florida will experience a comeback sooner or later,” McGuire says. “The original concept for the site was a mixed-use development. We are going to explore pursuing some balance of that structure.”

The new ownership is also considering a host of other options for the property, including selling it off in pieces.

McGuire Development has developed a number of other projects in Indian Rocks Beach, Clearwater and Sarasota.

The purchase entity Airport Pulling Orange Blossom LLC mortgaged the property to Manufacturers and Traders Trust Co. for $7.41 million.