A 70-acre development site at the intersection of Colonial Boulevard and State Road 82 in Fort Myers sold for $21,970,097. Crossroads Commerce Center, which is approved for 355,000 square feet of commercial use, was purchased by Fort Lauderdale-based real estate investment firm Elevate Partners LLC from Summit Properties SW LLC in a deal that closed on Feb. 25.
Bill McGee III, senior vice president of Berger Commercial Realty/Corfac International, represented Elevate Partners, which has a multifamily project portfolio that includes the 25-story, 260-unit 4 West Olas luxury apartments in Fort Lauderdale as well as projects in Boca Raton, Destin and Charleston, South Carolina. Brandon Delanois with Jones Lang LaSalle represented the seller.
Exact plans for the project are unclear, Berger Commercial Realty officials said. Although the project is still under review, plans for the site include a commercial, multifamily, mixed-use or retail development.
With proximity to Interstate 75 and across from a Publix-anchored shopping center, Crossroads Commerce Center has nine outparcels along Colonial Boulevard and two existing, fully constructed median openings. The property also has a median opening along State Road 82.