America Realty Capital buys Fort Myers Bridgestone tire store

BUYER: ARC BFFTMFL001 LLC (America Realty Capital), Charlotte, N.C.
SELLER: First City South LLC
PROPERTY: 4741 Laredo Ave., Fort Myers
PRICE: $3.05 million
PREVIOUS PRICE: $2.62 million, August 2009
LAW FIRM ON DEED: Garlick Hilfiker & Swift LLP, Naples

PLANS, DESCRIPTION: America Realty Capital of Charlotte, N.C., purchased a 12,000-square-foot auto repair building for $3.05 million.

The price equated to $254 per square foot. That figure is higher than the two-year average price per square foot for retail space ($140) in Southwest Florida, according to the CoStar Group.

The building was constructed in 2009 for Bridgestone Americas Inc.'s tire operation. It features an external loading dock, two drive-in bays and a truck well. Bridgestone has more than 10 years remaining on its triple net lease of the property, which obligates the automotive business to pay all real estate taxes, building insurance and building repairs and maintenance costs.

The property was purchased as an investment.

Dean Larsen of Acquisition Realty & Development represented the seller and Mike Novak of Novak Forney & Associates LLC represented the buyer.