Estero investor buys Taylor Morrison property

BUYER: Hamleg Corkscrew LLC (manager: Gary Levenson), Estero
SELLER: Pine Estero Holdings LLC
PROPERTY: 9401 and 9470 Corkscrew Palms Circle, Estero
PRICE: $2.8 million
PREVIOUS PRICE: $2.36 million, January 2001
LAW FIRM ON DEED: First American Title Insurance Co., Clearwater

PLANS, DESCRIPTION: Commercial real estate investor Gary Levenson of Estero purchased a 19,433-square-foot office building and a second floor 6,396-square-foot office condominium in a second building for $2.8 million.

The price equated to $108 per square foot.

The space is currently leased to Taylor Morrison through October 2016. The homebuilder used the three-story office building as its regional operations center and the condominium unit as a design center. However, the company is now only occupying about half of one building.

Andrew DeSalvo and Matt Stepan of Premier Commercial Inc., represented the buyer, and Ashley Bloom of Sperry Van Ness represented the seller.

“He's buying a building for below replacement cost,” Stepan says. “It's very well located in the heart of Estero.”