Vantage Properties buys land for Gulf Coast Town Center outparcels

BUYER: Van University Plaza LLC (principals: Greg Nowak, R. Scott Collins and Franco Mirasola Jr.), St. Petersburg
SELLER: Cleveland Clinic Foundation
PROPERTY: a portion of land south of Alico Road and west of Royal Queen Boulevard and containing a portion of University Plaza Drive, Fort Myers
PRICE: $4.5 million
PREVIOUS PRICE: $12.5 million, December 2003 (includes additional land)
LAW FIRM ON DEED: Roetzel & Andress LPA, Fort Myers

PLANS, DESCRIPTION: St. Petersburg's Vantage Properties purchased 22.46 acres of land in front of Gulf Coast Town Center Mall for $4.5 million.

The price equated to $200,356 per acre. That figure is lower than the two-year average price per acre for retail space ($746,593) in Southwest Florida, according to the CoStar Group.