Miami attorney-led group buys former Circuit City retail center

BUYER: Destiny Buildings LLC (manager: Leslie Florez), Miami
SELLER: Jaffe of Weston II Inc.
PROPERTY: 4300 and 4380 Cleveland Ave., Fort Myers
PRICE: $2.53 million
PREVIOUS PRICE: $8.34 million, November 2005

PLANS, DESCRIPTION:
A company led by Miami attorney Leslie Florez purchased a 50,650-square-foot retail strip center for $2.53 million.

The price equated to $50 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 two-building retail center was built in 1990 on 3.62 acres along U.S. 41 north of Colonial Boulevard. The property houses Leaf Asian Grocery Market, Mia Glamour Fashion and Talk of the Town Consignment. The 31,000-square-foot former Circuit City anchor space is leased to New Life Worship Center.

The center currently has a 4,100-square-foot vacancy.

Florez had not returned a request for comment as of deadline.