Colonial Square Harley-Davidson building sold for $4.18 million

BUYER: JRE-CB03 LLC (principals: James Bunnell and Daniel Dosoretz), Fort Myers
SELLER: Colonial Fort Meyers LLC
PROPERTY: 2160 Colonial Blvd., Fort Myers
PRICE: $4.18 million
PREVIOUS PRICE: $4.6 million, July 2006
LAW FIRM ON DEED: Robert A. Brandt PA, North Miami

PLANS, DESCRIPTION: An investment group led by Jay Bunnell purchased the 46,190-square-foot Harley-Davidson store in Colonial Square for $4.18 million.

The price equated to $90 per square foot. That figure is lower than the two-year average price per square foot for retail space ($140) in Southwest Florida, according to the CoStar Group.

The building was built in 1984 for Scott Fischer Enterprises, which has operated it since. The property's new owner will continue to lease the building and 3.36 acres of land to Scott Fischer Enterprises and no changes are planned.

The purchase entity, JRE-CB03 LLC, mortgaged the property to First America Bank for $3.1 million.