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Gulfside Investments Pays $115 Per SF for Office Asset

FORT MYERS, FL-Gulfside Investments LLC paid about $7 million to Fairfax Fort Myers LLC for the 59,466-sf Fairfax Center I here. Fairfax Center II nearby just sold for nearly $9.8 million, or $156.71 per sf.

By Melissa Bogdany | Updated on July 13, 2004

FORT MYERS, FL-Gulfside Investments LLC purchased Fairfax Center I, a 59,466-sf office building in the city for nearly $6.9 million. The price equals approximately $115.19 per sf. Fairfax Fort Myers LLC sold the property at 4210 Metro Parkway in the North Fort Myers submarket.

The per-sf price is about $41.50 less than that paid at about the same time for the slightly larger, neighboring Fairfax Center II, which commanded a sales price of nearly $9.8 million, or $156.71 per sf. Deer Ridge Associates acquired the Fairfax Center II office building, with 62,216 rentable sf and located at 4310 Metro Parkway, from US Property Fund, GMBH & Co. KG. This building is triple-net leased to Hanson Building Materials of America Inc.

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