A 70-acre strip of Fort Myers land under contract Become an Amazon warehouse and distribution facility Instead, it was sold to another buyer planning a rental community of 700 units.
PSPR Forum LLC, owned by Miami-based Wolfson Development, paid $30 million for land facing Interstate 82, east of Interstate 75, and just east of the Lexington Palms apartment complex. PSPR Forum LLC purchased the land from C-HACK LLC, a Fort Myers-based landowner group led by the Heuser family.
LSI CEO Justin Thibaut said Fort Myers’ LSI Companies brokered the transaction and will continue to broker the commercial lot planned for the front of the lot. C-HACK LLC owns approximately 200 acres of land immediately east of the recently sold property.
“What we are looking at is the acquisition of a prime property just east of 75 and north of Forum,” Thibaut said of the deal. “The underlying zoning is suitable for many commercial and residential uses.”
Adam Wolfson, CEO of Wolfson Development, said he first noticed the parcel in 2017-2018 en route to Bradenton from Miami, where his company has two other developments. He stopped at a Starbucks at the Forum and drove by the parcel on his way back to the interstate.
“I chased the piece for two years, trying to convince Justin to give it another try,” says Wolfson. “He called me when Amazon decided not to continue with its expansion plans.
“It’s significant. Yes, and if interest rates continue to rise, that trend will only get stronger.It will become more and more difficult for people to own a home.”
Site plans for the complex, dubbed North Forum Reserve, will be completed in four to five months, and construction will begin about a year from now, Wolfson said. At the front are commercial properties with quick-service restaurants and other retail outlets, multi-family homes and rental townhomes measuring about 1,400 to 1,700 square feet and he offers 3-4 bedrooms and can be converted into single-family homes. Comparable.
Wolfson Development has seven full-time employees and $800 million worth of assets spread across six different communities. While the company remains small, it prefers to use contractors to manage the property during construction and completion. Renting a regular single-family home usually doesn’t give you the amenities and sense of community, he says, Wolfson.
“We give people all of that,” he said. “A sense of community. We give you the space you need. Top-of-the-line appliances. Pools, gyms, fitness centers, dog parks. You see what people pay for it. Putting that combination together, tenants have There tend to be families, they tend to stay there longer.”
Wolfson Development has three rental communities nationwide in Florida, including Symphony Lakes and Cantabria in Bradenton and Encanto Isla in the Buena Ventura Lakes on Florida’s east coast.
Encanto Isla has two sites totaling 25 acres and 214 units.
Bradenton Cantabria has townhomes and single family homes. $3,300 per month four-bedroom home with 1,590 square feet of rent.
Wolfson is also developing 350 units at Ormond Beach near Daytona.
“Our deal with Bradenton is the first large-scale community for rent in the state,” Wolfson said. “Probably in the Southeastern United States. This trend, he said, started in 2017, but probably before the term rentable.
“Personally, I preach the Built to Rent gospel. “