Alex Henderson and Max Molloy, formerly of Fischler Property Company and now with LSI Companies, brokered a 31.9± acre assemblage located at the southeast corner of Winkler Road and Gladiolus Drive for $19,969,400. The property was acquired by The Residential Group, an Atlanta-based development firm.
“The Residential Group’s investment signals confidence in the economic vitality and future growth of this area. We are excited to contribute to the region’s development by connecting long-time property owners and capable developers to create opportunities like this one,” said Max Molloy of LSI Companies.
The new owner plans to develop 386 luxury apartment units alongside seven acres of commercial outparcels on the site, which is situated in Lee County’s Mixed-Use Overlay District. This development marks the first ownership change for either parcel in over 30 years.
Phil Fischler, founder of Fischler Property Company, who played a role early on in obtaining the listing agreement with the sellers, commented, “Few understand the level of perseverance and tolerance for risk that is required to bring a project of this size and scale to fruition. This project is a testament to professionalism, partnership, and fortitude to see a challenging deal through the finish line no matter the obstacles. We appreciate the sellers for trusting us to arrange such a critical sale with such high stakes.”
“This transaction underscores the enduring strength of the Southwest Florida market and the collaborative efforts required to bring such a significant deal to fruition,” added Alex Henderson of LSI Companies.
The sale not only fulfilled the sellers’ objectives of selling both parcels together at their desired price but also paves the way for transformative development in a high-demand area of Fort Myers.