Boat House Group buys Del Prado Boat Club

BUYER: Boathouse of Cape Coral LLC (principals: Kevin Code and Thomas Hansen), Cape Coral
SELLER: Synergy Property Holdings LLC
PROPERTY: 1428 S.E. 46th St., Cape Coral
PRICE: $1.43 million
PREVIOUS PRICE: $4.18 million, January 2007
LAW FIRM ON DEED: Gonzalez & Shenkman PL, Wellington

PLANS, DESCRIPTION: The Boat House Group purchased the Del Prado Boat Club in Cape Coral for $1.43 million.

The price equated to $8,938 per boat rack or $61 per square foot. That figure is higher than the two-year average price per square foot for industrial space ($50) in Southwest Florida, according to the CoStar Group.

The 1.12-acre property features a 23,585-square-foot building with 600 square feet of office and clubhouse space. The boat storage contains 160 boat racks averaging 35 feet long. The development was built in 2010 and sits on the Malaga Canal.

The boat dealership group already operates six other boat dealership properties, including in Elkhorn, Englewood, Port Charlotte and Prairie Grove, Ill., and Nashota, Wis. It has an existing Cape Coral location, known as The Boat House of Cape Coral, at 1516 S.E. 46th St.

Calls to The Boat House Group were not returned prior to deadline.

The seller was Synergy Property Holdings LLC, an affiliate of First Midwest Bank, which took ownership in lieu of foreclosure in March 2012.