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Benderson Buys 230 Acres; Plans Include 1M SF of Commercial Space

FORT MYERS, FL-The developer paid $53 million to Waterman Development for the land here, where the company also is talking about developing 1,000 multifamily units. The land leads to two fast-growing cities: Cape Coral and Lehigh Acres.

By Melissa Bogdany | Updated on September 14, 2004

FORT MYERS, FL-Development giant Benderson Development Co. Inc. has paid $53 million for 230 acres of land in the city, where it is talking about developing approximately one million sf of commercial space as well as 1,000 multifamily residential units. Waterman Development sold the property on Colonial Boulevard between Interstate 75 as the eastern border and Ben C. Pratt Six Mile Cypress Parkway as the western border. “Colonial is a major artery coming out of Cape Coral and … Lehigh Acres, so you’ve got an intersection where these two” rapidly growing cities lead, says Jerry Petersen, a commercial real estate adviser with VIP Commercial, formerly Grubb & Ellis

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