Curb Systems owners buy former downtown Iberia branch

BUYER: Palm Lee Properties LLC (principals: Jefferson and Charlene Romer), Fort Myers
SELLER: IberiaBank
PROPERTY: 2225 First St., Fort Myers
PRICE: $1.2 million
PREVIOUS PRICE: $2.3 million, February 2006
LAW FIRM ON DEED: Jones Walker LLP, Miami

PLANS, DESCRIPTION: Two owners of Curb Systems of S.W. FL and Sarasota LLC, Jeff and Charlene Romer, purchased a 7,981-square-foot downtown office building for $1.2 million.

The price equated to $150 per square foot. That figure is higher than the two-year average price per square foot for office space ($120) in Southwest Florida, according to the CoStar Group.

Originally built in 1925, the vacant two-story office building was a former IberiaBank branch. Located on the historic First Street, the property features hardwood floors and a woodwork display, an interior elevator, hurricane-resistant impact glass and second-floor patios.

Orion Bank purchased the building in February 2006, but in 2009 with the demise of Orion Bank, the property passed to the Federal Deposit Insurance Corp. as receiver. In September 2010, it was transferred to IberiaBank in a receiver's deed.

The new owners have started remodeling the interior of the building, but did not reply to requests for comment prior to deadline.

Bryan Myers of LandQwest Commercial represented the seller.