Costco buys 55-acre Fort Myers site for about $55M

Costco Wholesale acquired a 55-acre development site in Fort Myers, Florida. The press release says the land traded at about $23 per square foot, implying a purchase price of roughly $55 million, and positions the transaction as a record on a per-acre basis for tracts over 25 acres in the region. Mayhugh Commercial Advisors (Chuck and Chase Mayhugh) brokered the transaction and represented the seller. The site is at the intersection of Colonial Boulevard and Plantation Road with additional frontage along Metro Parkway.