Minneapolis' Holden Properties buys Forum Corporate Park II

BUYER: Forum Park II LLC (manager: George Holden), Edina, Minn.
SELLER: MLQ-ELD LLC
PROPERTY: 9160 Forum Corporate Parkway, Fort Myers
PRICE: $10.17 million
PREVIOUS PRICE: $11.5 million, December 2011

PLANS, DESCRIPTION:
Holden Properties purchased the 60,777-square-foot Forum Corporate Park II office building for $10.17 million.

The price equated to $167 per square foot.

The three-story office building was constructed in 2008 on a six-acre parcel in the 706-acre master-planned community The Forum at Fort Myers. It is 82.3% leased.

Rick Brugge, Mike Davis and Michael Lerner of Cushman & Wakefield and Robert Brooks of Songy Highroads represented the seller. Rob Carroll and William Gonnering of Investment Properties Corp. represented the buyer.

Cushman & Wakefield Research reports it is the second largest office sale in the Fort Myers market so far this year. The sale was done as part of a 1031 tax deferred exchange.