The land, at the southwest corner of Rattlesnake Hammock Road and County Road 951 (Collier Boulevard), sold for $12.4 million, or approximately $381,538 per acre. The seller was Alanda Ltd., also based in Fort Myers.
The plans call for a181,000-sf medical office park plus approximately 150,000 sf of retail space, Gary Tasman, of Grubb & Ellis|VIP in Fort Myers, tells GlobeSt.com. Tasman represented Alanda. in the Hammock Woods land transaction.
The project is being driven by plans for a new hospital close by, creating a future need for medical offices, Tasman says. A hospital recently closed on a nearby parcel of land, and the facility will probably be finished in a couple of years, he adds.
At press time, the medical office space was in the "very, very early stages of concept planning," Tasman says. The retail portion of the project is under way and the sale of outparcels has begun, he says. One site has been sold to Colonial Bank. In addition, "We're negotiating with a bank, a gas station and a drug store," Tasman says.
The retail portion also may include some general office space. Including the outparcels, the retail portion probably will total approximately 150,000 sf. About half of the acreage of the new development is in outparcels, he says.
The entire project should be completed in about 24 months, Tasman says. The infrastructure will start right away and construction will be absorbed as the market demands, he says.
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
Already have an account? Sign In Now
*May exclude premium content© 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.
