Investors buy industrial building for $2.18 million

BUYER: K. P. Properties of Florida LLC (principal: Susan and David Knust), Fort Myers
SELLER: Gulf Paradise Corp.
PROPERTY: 10016 and 10030 Bavaria Road, Fort Myers
PRICE: $2.18 million
PREVIOUS PRICE: $892,500, January 2004 and $195,300, July 2004
LAW FIRM ON DEED: Thomas E. Moorey Esq., Fort Myers

PLANS, DESCRIPTION:
Fort Myers industrial investors Susan and David Knust purchased a 60,000-square-foot industrial building near Southwest Florida International Airport for $2.18 million.

The price equated to $36 per square foot. That figure is less than the two-year average price per square foot for industrial space ($90) in Southwest Florida, according to the CoStar Group.

The 5.06-acre property in Airport Woods Commerce Center is leased to Eastern Metal Supply Inc.

Bob Johnston, Jerry Messonnier and Derek Bornhorst of Lee & Associates|Naples-Fort Myers handled the transaction.

“The fact is there is a definite shortage of distribution buildings in the market,” Messonnier says. “This is also right off I-75 at Daniels (Parkway) and Treeline (Avenue). It was quality construction with a fully covered truck court and excess land for parking. The owners are very bullish on Southwest Florida.”