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Tuesday, December 30, 2014

Daniels/I-75 tract to be auctioned

Source: The News-Press
By Dick Hogan

A 67-acre tract at Interstate 75 and Daniels Parkway — once part of the empire of real estate holdings controlled by real estate agent Samir Cabrera — is being auctioned off with a minimum bid of $10 million.

Daniels Parkway JV Investment LLC, controlled by Lee County eye doctors Jonathan Frantz and Alexander Eaton, bought the property for $17.6 million on June 29, 2007, from Samir Cabrera Daniels View LLC.

Samir Cabrera Daniels View LLC had purchased the land June 9, 2006, from STR & Associates LLC, a company affiliated wiht Cabrera, for $18.9 million, hours after STR bought it for $12.3 million from a family that had owned it for years.

Now Daniels Parkway JV Investment has retained Chicago-based NRC Realty & Capital Advisors to sell the land.

NRC started to market the property about two weeks ago, company executive managing director Evan Gladstone said Tuesday. “We’ve had several dozen inquiries already, that’s a pretty healthy early response.”

The property is zoned for office, retail and a hotel and “there’s some flexibility for a variety of uses,” Gladstone said.

For example, it’s possible that a portion of the property could be approved for multifamily development, he said. “That seems to be a real hot sector right now.”

Randy Thibaut, owner of Fort Myers-based Land Solutions real estate brokerage, said the property “would be a great corporate headquarters,” and noted that Hertz Global Holdings is building a new world headquarters near U.S. 41 and Corkscrew Road, one exit to the south.

“It’s not really suitable for office right now because there’s such an over-supply of office” in Southwest Florida, he said.

One issue the property has faced since Cabrera had it eight years ago is that its accessibility would be greatly enhanced if Three Oaks Parkway is extended to Daniels from the Airport Canal north of Alico Road.

“If Three Oaks isn’t extended it’ll hold that property back,” Thibaut said.

Lee County spokeswoman Betsy Clayton said the extension is projected to cost $55.9 million “and some right-of-way has been acquired. It is shown in Lee County’s Capital Improvement Plan in the six-to-10-year period.”

The property is 83.5 percent wetlands and would require mitigation, but a plan to do that has been approved by the South Florida Water Management District, NRC says in a package of materials for interested buyers.

There’s a deadline of Feb. 24 to submit a bid.

Cabrera was never charged in connection wi