JPMorgan Chase Bank branch replacing BP, Southtrail Auto Center

BUYER: JPMorgan Chase Bank National Association, Columbus, Ohio
SELLER: Boos Development Group Inc.
PRICE: $2.4 million
LAW FIRM ON DEED: Bryan J. Stanley PA, Clearwater

BUYER: Boos Development Group Inc.
SELLER: Southtrail Auto Center Inc.
PROPERTY: 7010 Cypress Terrace, Fort Myers
PRICE: $1.65 million
PREVIOUS PRICE: $770,000, November 2005

PLANS, DESCRIPTION: Boos Development Group Inc. purchased a 5,747-square-foot BP gas station with a three-bay auto repair shop at the corner of U.S. 41 for $1.65 million.

The Clearwater-based single-tenant retail company plans to demolish the gas station to develop a bank branch for JPMorgan Chase Bank on the 0.72-acre site. It has since sold the property to JPMorgan Chase Bank for $2.4 million, $753,733 over its initial purchase price.

The new branch will be about 3,500 square feet with a drive-thru. It is scheduled for completion in 2014.

Boos Development Group officials declined to comment and JPMorgan Chase had not responded to requests for comment as of deadline.

Richard Clarke of Lee & Associates|Naples-Fort Myers handled the first sale to Boos Development Group.

“It's at a great signalized location heading into a Costco [Wholesale] center,” Clarke says. “North of 40,000 cars pass by it every day.”

The seller, Southtrail Auto Center, has move to a location on Metro Parkway.