Lee Memorial Hospital Inc. doing business as Lee Healthcare Resources sold the land for about $1.6 million, or about $688,362 per acre. The cost of the land and the building is expected to total approximately $4 million.

The land is located at the corner of the HealthPark campus, at Summerlin Road and Bass Road.

First National plans to build a two-story, 20,000-sf, class A building with a drive-through at this location. The building will house all financial services, from insurance to securities to banking services, Paul A. Sands of Grubb & Ellis VIP, who represented First National Bank of Florida in this transaction, tells GlobeSt.com.

"They're going to start construction as soon as they can get the permits pulled," probably later this year, Sands says.

First National is based in Naples, FL, and also currently has a presence in Fort Myers and Cape Coral, FL.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Retail