A 55-acre site in Fort Myers was acquired, marking one of the largest and highest-value land sales in Southwest Florida history. Costco Wholesale acquired a 55-acre development site at the signalized intersection of Colonial Boulevard and Plantation Road in Fort Myers, with additional frontage along Metro Parkway.
The transaction was brokered by Chuck Mayhugh and Chase Mayhugh of Mayhugh Commercial Advisors, who represented the seller. The property traded at approximately $23 psf which translates to a overall purchase price of $55 million, setting a record on a per-acre basis for a tract exceeding 25 acres in the region. This transaction represents more than a land sale, it signals continued institutional demand and long-term confidence in the Fort Myers market.
The new Costco location is expected to deliver significant job creation, increased tax revenue for Lee County, a major retail anchor driving daily traffic, and rising property values and commercial activity in surrounding corridors. With pricing at approximately $23 per square foot, the transaction establishes a new benchmark for large-scale land sales in Southwest Florida, particularly for infill sites with strong infrastructure and regional accessibility…