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TIB Bank Buys Land to Build 44,000-SF Facility

FORT MYERS-The 133,590 sf of land, which has been up for grabs for 12 years, sold for about $1.1 million, or $8.14 per sf. The financial institution, based in Key Largo, plans to build a branch and 30,000 sf to 40,000 sf of supporting office and retail space.

By Melissa Bogdany | Updated on May 15, 2003

FORT MYERS-TIB Bank of the Keys, a 29-year-old financial institution based in Key Largo in the Florida Keys, has continued its expansion north with the recent purchase of 133,590.42 sf of vacant land in Fort Myers, FL, on which it plans to build up to a 44,000-sf facility.

The seller of the land, located at 12915 Metro Parkway, was S. Lee Crouch, Trustee. The sale price was approximately $1.1 million. The $8.14 per sf is a top per-sf price paid for vacant land in the Metro-Daniels corridor, which is where Metro Parkway and Daniels Parkway intersect and which is a booming industrial and office area.

The land sale may come as a surprise, given the length of time it’s been on the market. “One other thing that’s significant is this land has been for sale for 12 years,” Tasman says.

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