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126,351-SF SunTrust Plaza Sells for $14M

MIAMI-Fort Myers Venture l LLC paid $110.80 per sf to Fountain Square Associates, a partnership of Stiles Corp., for the 126,351-sf, nine-story property. Stiles Corp. built the building in 1987 as an investment.

By Melissa Bogdany | Updated on March 05, 2003

MIAMI-The SunTrust Plaza building, part of the downtown Fort Myers, FL landscape, has been sold for $14 million, or $110.80 per sf. Fort Myers Venture l LLC purchased the 126,351-sf, nine-story property from Fountain Square Associates, a partnership of Stiles Corp., a full-service commercial real estate development and investment company based in Fort Lauderdale.

The financing for the new owner was arranged through Orion Bank. The property is located at 2000 Main St. and at the time of the sale, the building was 86% leased. Tenants include SunTrust Bank; Allstate Insurance; Kubicki-Draper PA; Conroy, Simberg, Ganon, Krevans & Abel PA; George, Hartz & Lundeen PA; Lee County government; and Parvey, Frankel & Nelson PA, among many others.

The SunTrust Plaza building was built by Stiles Corp. in 1987. Stiles will continue to manage and lease the property for Fort Myers Venture l LLC.

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