Estero Building Sold for $1.42M

ESTERO, FL-Corkscrew Palms LLC has sold a local retail building to Wayside Properties for $1.42 million. The price of the 8,116-sf building equates to $175 per sf.

The building is located in Corkscrew Palms at Corkscrew Palms Circle, Suite 1. The building is the first in the new retail complex under development there.

The building will be home to as many as five retail stores. Leases are out for signature to a furniture store, a hair salon and a kitchen cabinetry store. In addition, there is space available for a 3,000-sf restaurant.

Corkscrew Palms is located between US Highway 41 and Interstate 75. The complex consists of 11 office, medical and retail buildings. The development is the first one along the hot Corkscrew Boulevard. There is also space for 6,000 sf in additional retail space for future development. Currently, three buildings are built and one is sold.

Becky Andrews and Jerry Petersen of Grubb & Ellis