Investor Robert Cheyney of Englewood, FL, bought the 30,537-sf plaza from Volute Enterprises Inc. of Fort Meyers, FL. for $3.3 million or $108 per sf, one of the highest per-sf prices this year for a small office property in southwest Florida. The cap rate was 9.7%.

North Point Office Plaza, built in 1984, is at 3434 Hancock Bridge Parkway. Average quoted rents are $11 per sf, triple net.

Seventy percent of the tenants in the 95%-occupied plaza represent federal, state and local government. They include the U.S. Department of Agriculture, Florida Public Risk Management and the Lee County purchasing department.

Mark Alexander, senior affiliate adviser for Irvine, CA-based Sperry Van Ness, represented the seller. Steve Reeves of Coldwell Banker Commercial in Port Charlotte negotiated for the buyer.

Alexander tells GlobeSt.com that while the original plan was for Sperry Van Ness to market the property via e-mail to commercial brokers region by region, it never got past the Eastern Seaboard.

The initial e-mail to 25,000 to 30,000 brokers brought in 27 requests for formal packages within four days of the e-mail approach, Alexander says. That led to four offers and a signed contract 12 days after the listing agreement was signed at 98% of the list price, he says.

"It blew the seller away, the response we got," Alexander tells GlobeSt.com.

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