Fort Myers attorney buys Englewood's Rotonda Plaza

BUYER: Placida Village LLC (manager: Richard Pringle), North Fort Myers
SELLER: Isram Rotonda LLC
PROPERTY: 5855 Placida Road, Englewood
PRICE: $2.15 million
PREVIOUS PRICE: $3.06 million, June 1997
ATTORNEY ON DEED: Alan J. Marcus Esq., Aventura

PLANS, DESCRIPTION:
A company led by Fort Myers attorney Richard Pringle purchased the 46,836-square-foot Rotonda Plaza for $2.15 million.

The price equated to $46 per square foot. That figure is less than the two-year average price per square foot for retail space ($150) in Southwest Florida, according to the CoStar Group.

The Charlotte County retail strip center is located adjacent to the golf-course community of Rotonda West. The vast majority of the space, 36,736 square feet, in the center was vacant at the time of the sale. Tenants include Subway, Beverage Depot, Magic Nails and Rotonda Laundry.

An affiliate of Miami-based Isram Group of Cos. was the seller. Isram Group owns and manages about 1.6 million square feet of retail space.

Pringle had not responded to a request for comment as of deadline.

The purchase entity, Placida Village LLC, mortgaged the property to the seller, Isram Rotonda LLC, for $1.5 million.