Investors' Security Trust Co. moving to Summerlin office building

BUYER: Investors' Security Trust Co. (principals: Samira Beckwith, Craig Hersch, Charles Idelson, Richard Ackert, Elizaberth Kagan, Lynn Kirby, Todd Caruso, James Moore, John Noland, Timothy Stephenson, Linda Teise and Dudley Goodlette), Fort Myers
SELLER: Summerlin Pointe Development Properties
PROPERTY: 5246 Red Cedar Drive, Fort Myers
PRICE: $1.43 million
PREVIOUS PRICE: $418,500, April 1997
LAW FIRM ON DEED: Bolaños Truxton PA, Fort Myers

PLANS, DESCRIPTION:
Fort Myers-based Investors' Security Trust Co. purchased an 11,940-square-foot office building near Summerlin Road for $1.43 million.

The price equated to $119 per square foot. That figure is less than the two-year average price per square foot for office space ($131) in Southwest Florida, according to the CoStar Group.

Constructed in 1997, the building features 37 offices, a conference room, lobby and server room. It occupies a 1.37-acre site.

The trust company plans to relocate to the larger location from its leased 4,800-square-foot space at 12800 University Drive, Suite 125, Fort Myers. Investors' Security Trust will occupy 6,200 square feet in the building, sharing space with the building's current tenant, Comcast.

The new owner is building out the new space and hopes to move in July.

“In our 10 years in business, [Investors' Security Trust] has grown from five to 16 employees with the need to add even more,” Charles Idelson, president and CEO of Investors' Security Trust, wrote in an email to the Business Observer. “Our new office provides excellent visibility, easier access and parking for our clients and room to grow into the next decade and beyond.”