Miami real estate investors buy Beacon Executive Suites

BUYER: New Beacon Village LLC, Miami Beach

SELLER: Beacon Villas LC

PROPERTY: 8359 Beacon Blvd., Fort Myers

PRICE: $1 million

PREVIOUS PRICE: $975,000, June 1999

LAW FIRM ON DEED: Madden Law Firm LLC, Fort Myers

PLANS, DESCRIPTION:
Miami real estate investors Luis and Virginia Dominquez purchased the 53,301-square-foot Beacon Executive Suites for $1 million.

The price equated to $19 per square foot.

The property features 118 executive suites, two conference rooms, a fitness center and a deli. It also has a community room that seats 100. Originally built in 1982, the previous owners invested $3 million on renovations and improvements.

The new owners plan to refurbish it and keep it as executive suites, according to Allan Fox, property manager and rental agent.

“It's in excellent condition right now,” Fox says. “They will just be making changes to the landscaping, enhancing the insides and painting and carpeting it.”

The office building was 60% occupied at the time of the sale.