Seagate Sells Shopping Center for Over $5 Million

09/01/2021
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FORT MYERS, Fla.  — Arbor Towne Investors, LLC – a Seagate Development Group affiliate – has sold Arbor Towne Square to Arbor Lin, LLC for $5.1 million. Tim Schneider with Trinity Commercial Group was the seller’s broker in this transaction, while his colleague, Matthew Fredrickson, represented the buyer of this 30,000-plus-square-foot retail center.

This sale comes 3.5 years after Seagate purchased the property located at 10654-10676 Colonial Blvd. – off Treeline Ave. – in Fort Myers.

Currently, the rent roll consists of Goodwill, Allstate, Domino’s Pizza, Walgreens and Pinch A Penny. The plaza is adjacent to the 76,000-square-foot, 663-unit self-storage facility that Seagate’s SW Management & Realty sold to Public Storage in April.

“This center was a great opportunity for redevelopment when we purchased it,” said Matt Price, CEO & Partner at Seagate Development Group. “Arbor Towne Square has direct access to I-75 and is in a prime location. Thousands of people pass this site every day and rely on tenants’ services. We are more than pleased with the product and look forward to the continued success of the project.”

For more information on Seagate-owned and managed properties, visit SeagateDevelopmentGroup.com.

About Seagate Development Group

Seagate Development Group is a leading, full-service development company specializing in a design-build process via new construction, custom renovations, interior design, and management and leasing services.

Seagate’s high-profile, design-build projects include NeoGenomics’ $60-million global headquarters and Scotlynn USA Division Inc.’s 60,000-square-foot North American corporate headquarters as well as managing over 1.5 million square feet of commercial space.

We are currently building custom, end-user residences in Esplanade Lake Club, Quail West, Talis Park, Hill Tide Estates and other luxury residential communities throughout Southwest Florida. In addition to recently completing a $5-million-plus grand estate model in Quail West, Seagate developed, built and sold 28 custom homes in Windward Isle. Our team also continues to conduct remodeling projects in and around the region.

Seagate Development Group’s corporate headquarters is located at 9921 Interstate Commerce Drive in Fort Myers. For additional information, visit SeagateDevelopmentGroup.com.