Drury Development plans Fort Myers Drury Inn, Suites

BUYER: DDC Hotels Inc. (officers: Timothy, Charles and Shirley Drury, Charles Drury Jr., Larry Hasselfeld, Jacqueline Pollvogt, Charles Lee, Vincent Miller, Anthony Right, Robert Warner, David Wilson, Lisa Leary and Mark Kohl), St. Louis
SELLER: Van University Plaza LLC
PROPERTY: 9950 University Plaza Drive, Fort Myers
PRICE: $2 million
PREVIOUS PRICE: $4.5 million, December 2013 (contained additional parcels)
LAW FIRM ON DEED: Gunster Yoakley & Stewart PA, Fort Lauderdale

PLANS, DESCRIPTION:
Drury Development Corp. purchased 2.64 acres south of Alico Road and east of Interstate 75 for $2 million.

The price equated to $757,576 per acre.

The St. Louis-based developer plans to create a 180-unit Drury Inn & Suites on the site. A spokesperson for the developer says it was drawn to the property because of the strong hotel market, access to the airport and the nearby amenities, which includes Gulf Coast Town Center to the south.

Drury Development and its sister company, Drury Hotel Co., which are both owned and operated by the Drury family, have only a single Drury Inn and Drury Inn & Suites in Florida.

The company expects to start construction on the hotel next year for an opening in 2017.