NORTH FORT MYERS, Fla. (Sept. 13, 2022) – In the rapidly growing Fort Myers MSA, developers see the needs of the area and they are delivering. With the population expanding at the highest rates in Southwest Florida’s history, as well as projections of population exponentially growing in the upcoming years, finding more housing options is more than necessary. Evergreen Pine Island Co. saw this need and will be bringing new housing options to the busy North Fort Myers/Cape Coral area.
Laurel Center Management recently sold 9.3 acres of land in North Fort Myers/Cape Coral to Evergreen Pine Island. Laurel Center Management purchased the three-parcel property back in December of 2012 for $295,000, around $0.61 per square foot; to say that the surrounding area has changed would be an understatement. The population in a 10-mile radius surrounding the property since 2010 has grown by over 30,000 and is projected to gain another 22,000 by 2027.
The local community around the parcels has grown in many ways to fill the needs of the current expansion: a plethora of businesses, schools, medical facilities, and restaurants have recently developed. Furthermore, the land was recently annexed into Cape Coral which further increased its value and sold at $4.96 psf for $1,950,000 to Evergreen Pine Island Co. Gary Tasman, CEO and Principal Broker, along with Shawn Stoneburner, Senior Broker, for Cushman and Wakefield | Commercial Property Southwest Florida facilitated in the sale of the land.
Evergreen Pine Island Co. now plans to develop multifamily housing/luxury apartments with the land. Recognizing the housing needs of the current market, it is expected to be a great addition to the community. With the property in close relation to many businesses and major corridors, it will be a great location for living in Southwest Florida.
About Cushman & Wakefield | Commercial Property Southwest Florida, LLC
Cushman and Wakefield | Commercial Property Southwest Florida, LLC delivers integrated solutions by actively advising, implementing, and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. They cultivate long term relationships, advising clients in buying, selling, financing, leasing, and managing assets. C&W also provides valuation advice, strategic planning and research, portfolio analysis, site selection and space location assistance.
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