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Friday, January 23, 2009

Net Lease Properties reports Tavira high-rise construction

BONITA SPRINGS, Florida - Construction of Tavira at Bonita Bay has topped out. The last major roof slab on the 26-story residential high-rise has been poured, and construction is on schedule with completion slated for next fall. The Lutgert Companies and Boran Craig Barber Engel Construction Company Inc. broke ground for the building in October 2007.
Net Lease Properties are hard to find in this area with a high cap-rate.
Triple Net Lease Properties was analyzing a Charter School as a Net Lease Investment in the area.
The sixth of eight high-rises planned along Estero Bay in Bonita Bay, Tavira is next to Estero Bay Park, one of three waterfront parks within the 2,400-acre master-planned community. The building will have a rooftop sunset terrace with views of Estero Bay, Bonita Beach and the Gulf of Mexico.
Forty-three of Tavira’s 90 residences, including the two penthouses, have been sold. Home prices range from $1,606,000 to $2,853,000.


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