Investment firm Stratford Land recently sold Bonita Exchange, a parcel situated west of I-75, to Core Development following approval by the Bonita Springs City Council for rezoning to a mix of commercial and multifamily use.
Comprising approximately 24 acres, the property is near the Fort Myers airport, with excellent visibility and access to the interstate, David Moore, southeastern U. S. senior investment manager for Stratford Land, said. Stratford purchased the property in 2012, just as Lee County began a period of rapid growth, and successfully marketed it, commenting that Core felt like the right choice.
“Identifying this market as a place we wanted to be, Core Development was pleased to be able to buy this strategic property from Stratford Land,” Keith Jennings, development partner for Core Development, said. “Regarding Bonita Exchange, we worked diligently and well together with Stratford Land to secure zoning which meets the current needs of this growing market.”
Core plans to construct approximately 20,000 square feet of retail space plus 264 multifamily units in four mid-rise buildings, along Quail’s Nest Lane and Bonita Beach Road.
Well-known retailers and facilities in the nearby development of Alico Lakes Village include Holiday Inn, Ashley Furniture, Chick-Fil-A and a 7-Eleven, with additional amenities in Gulf Coast Landings and Gulf Coast Town Center.
Core Development is headquartered in Miami, while Stratford Land is based in Dallas.