Lee Drywall buys Bill Creek building for additional storage

BUYER: 5845 Corporation Circle LLC (managers: Mitchell and Traci Lee), Fort Myers
SELLER: RRL Partners LLC
PROPERTY: 5845 Corporation Circle, Fort Myers
PRICE: $1.31 million
PREVIOUS PRICE: $1.6 million, January 2000
LAW FIRM ON DEED: Knot Ebelini Hart, Fort Myers

PLANS, DESCRIPTION:
Lee Drywall Inc. purchased a 40,023-square-foot industrial building for $1.31 million.

The price equated to $33 per square foot. That figure is less than the two-year average price per square foot for industrial space ($90) in Southwest Florida, according to the CoStar Group.

Constructed in 1987, the building features 600-AMP electrical power, five grade-level doors, a fire-suppression sprinkler system, office space, a break room and four restrooms. The 2.6-acre property in Billy Creek Commerce Center is fenced and includes 28 fenced-in parking spaces and 23 spaces outside the fence.

The Fort Myers contractor acquired the building because it needed additional warehouse space, according to one of the owners, Traci Lee.

“This is even a little more space than we need,” she says. “But, it was a good buy. There really wasn't anything else out there.”

The purchase entity, 5845 Corporation Circle LLC, mortgaged the property to Regions Bank for $1.25 million.