The building, built in the 1920s, underwent extensive renovations that included a total gut and redo in the mid-90s. It has commercial space located on the first floor, and the upper floors consist of one-bedroom/studio apartments.
The transaction is the first sale of a renovated historic property within the downtown Fort Myers redevelopment district. The building, located at 1415 Dean St., currently is 100% occupied.
Commercial adviser Jim Garinger of Grubb & Ellis|VIP represented The Old Morgan Inc.; and Bob Pekol, also a commercial adviser with Grubb & Ellis|VIP, represented the Dean Building Group LLC.
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