{"id":58291,"date":"2023-07-09T21:00:43","date_gmt":"2023-07-10T01:00:43","guid":{"rendered":"https:\/\/thelehighacresgazette.com\/news\/?p=58291"},"modified":"2023-07-09T21:00:52","modified_gmt":"2023-07-10T01:00:52","slug":"real-estate-investment-firm-buys-70-acre-development-for-21-9-million","status":"publish","type":"post","link":"https:\/\/thelehighacresgazette.com\/news\/2023\/07\/real-estate-investment-firm-buys-70-acre-development-for-21-9-million\/","title":{"rendered":"Real estate investment firm buys 70-acre development for $21.9 million"},"content":{"rendered":"\n<p>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.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"536\" src=\"https:\/\/thelehighacresgazette.com\/news\/wp-content\/uploads\/2023\/07\/Crossroads-Commerce-Center-Parcel_-1024x536.jpg\" alt=\"\" class=\"wp-image-58292\" srcset=\"https:\/\/thelehighacresgazette.com\/news\/wp-content\/uploads\/2023\/07\/Crossroads-Commerce-Center-Parcel_-1024x536.jpg 1024w, https:\/\/thelehighacresgazette.com\/news\/wp-content\/uploads\/2023\/07\/Crossroads-Commerce-Center-Parcel_-300x157.jpg 300w, https:\/\/thelehighacresgazette.com\/news\/wp-content\/uploads\/2023\/07\/Crossroads-Commerce-Center-Parcel_-768x402.jpg 768w, https:\/\/thelehighacresgazette.com\/news\/wp-content\/uploads\/2023\/07\/Crossroads-Commerce-Center-Parcel_.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>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.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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&hellip; <\/p>\n","protected":false},"author":8,"featured_media":58292,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[58],"tags":[2426],"_links":{"self":[{"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/posts\/58291"}],"collection":[{"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/comments?post=58291"}],"version-history":[{"count":1,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/posts\/58291\/revisions"}],"predecessor-version":[{"id":58293,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/posts\/58291\/revisions\/58293"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/media\/58292"}],"wp:attachment":[{"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/media?parent=58291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/categories?post=58291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/tags?post=58291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}