Best Homes Services owners buy Rail Head flex building

BUYER: Railhead Boulevard of Naples LLC (principals: Chadd and Keegan Hodges), Bonita Springs
SELLER: St. John's Corp.
PROPERTY: 1455 Rail Head Blvd., Naples
PRICE: $1.6 million
PREVIOUS PRICE: $741,800, July 1999
LAW FIRM ON DEED: Pavese Law Firm, Fort Myers

PLANS, DESCRIPTION:
An investment group led by Chadd and Keegan Hodges, owners of Best Homes Services, purchased a 39,682-square-foot industrial building for $1.16 million.

The price equated to $40 per square foot. That figure is less than the two-year average price per square foot for industrial space ($90) in the Southwest Florida, according to the CoStar Group.

The large flex building features 32 tenant spaces on a 3.12-acre parcel in Rail Head Industrial Park. It was originally built in 2000 and features 12-foot-by-12-foot overhead doors.

Best Home Services, an HVAC, electrical and plumbing contractor, is renovating half of the building to serve as its corporate headquarters.

Mike Concilla of Equity Inc. represented buyer and William Wolf of Commercial Realty Group of Bonita Springs represented the sellers.

The purchase entity, Railhead Boulevard of Naples LLC, mortgaged the property to Finemark National Bank & Trust for $1.5 million.