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Friday, 08 January 2016 09:31

The Sum of Its Parts: The Properties, and Prices Behind the Grand Resorts Site Featured

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Mermaid Lounge Mermaid Lounge

 

While the Grand Resorts, as a concept, is one enormous project, the land it is planned to be built on is constituted of several parcels. In this article, we look to break down each individual property involved. This includes who owns it now, how much it was purchased for, and where it fits into the Grand Resorts, should it proceed as currently envisioned.

These plans are not set in stone as many key aspects of the project, such as a large seawall and boardwalk, have to be looked at and approved by entities such as FEMA and the Department of Environmental Protection.

Regardless of this, Tom Torgerson, CEO of TPI Hospitality and Developer of the property, has already spent tens of millions of dollars purchasing property on the island, with only a few key plots of land not yet in his ownership. Under the current concept presented to the public, Grand Resorts will consist of 4 hotels, a convention center, a parking garage, and a roundabout that could change traffic patterns on Estero Boulevard.

Property: Mermaid Lounge, 1204 Estero Blvd

Instrument Number: 2015000116114

Grantor: VAN SELOW SCOTT, VAN SELOW KATHRYN

Grantee: GRAND RESORT-FTMYERS BEACH LLC

Purchase Price: $4,500,000.00

Purchase Date: May 27th, 2015

Description: A popular local bar that also served as the location of the Surf Club years back. It serves as the south end of the properties Torgerson has purchased, and will serve as part of the lot that the planned Holiday Inn Resort will be built upon.GR cigarhut

GR beachbumsProperty: Cigar Hut/ Beach Bums/ Shops/ Condos/ Residence (Estero Blvd/ Canal Street)

Instrument Number: 2015000064243

Grantor: SUMMER DAZE LP, JUST OFF THE BEACH LLC

Grantee: GRAND RESORT-FT MYERS BEACH LLC

Purchase Price: $6,100,000.00

Purchase Date: March 24, 2015

Description: A group of businesses and residences that were purchased together, where Beach Bums and the Cigar Hut currently operate. The lot stretches out to the beach, where the Kings Landing villas stand. It will serve as the other half of the land that is planned for the Holiday Inn Resort.GR pierview

Property: Pierview Hotel, 1160 Estero Blvd

Instrument Number: 2015000181519

Grantor: SHREE SOMNATH LLC

Grantee: GRAND RESORT II-FT MYERS BEACH LLC

Purchase Price: $10,900,000.00

Purchase Date: August 13th, 2015

Description: The brightly colored Pierview Hotel will be replaced in the current plans with the Marriott AC Resort.

Property: Salty Crab, 1154 Estero Blvd

Instrument Number: 2015000177606

Grantor: ESTERO BEACH HOLDINGS LLC

Grantee: GRAND RESORT V-FT MYERS BEACH LLC

Purchase Price: $3,200,000.00

Purchase Date: August 11, 2015GR saltycrab

Description: The Salty Crab, a restaurant that stretches from the Boulevard to the beach, sits at the southern end of the lot where the Hilton Resort and Hampton Inn are currently planned to be built.

Property: Helmerich Plaza, 1133-1155 Estero Blvd, in addition to two small parking lots

Instrument Number: 2015000069120

Grantor: HUNTINGBURG PARTNERS LTD, HUNTINGBURG MANAGEMENT LLC

Grantee: GRAND RESORT-FT MYERS BEACH LLC

Purchase Price: $7,200,000.00

Purchase Date: April 1st, 2015GR helmerich

Description: Helmerich Plaza, the former site of the island’s McDonalds, and home to several other businesses and paid parking lots, will be the site of not only the planned parking garage, and the roundabout that will redirect traffic coming off the bridge over to Crescent Street, rather than by Times Square. Another small parking lot nestled against the Lighthouse Resort was also purchases, and will house an engineering building in the current plans.

There are two notable properties in the footprint that haven’t been acquired by Torgerson and his group yet, though, and both of them are owned by Lee County.GR beachpark2

Property: Crescent Beach Family Park, 1100 Estero Blvd.

Instrument Number: 2010000232448

Grantor: FIFTH THIRD BANK

Grantee: LEE COUNTY

Purchase Price: $5,600,000.00

Purchase Date: September 13th, 2010

Description: As the name suggests, it’s a park along the beach that not only allows for various activities and places to rest, but also provides an open view of the beach to those coming onto the island. Formerly, it was site to various businesses and hotels that were closed down after Hurricane Charley hit the island. If sold to Grand Resorts, it will be part of the site for the Hilton Resort and Hampton Inn.GR seafarers

Property: Old site of Seafarer’s Mall, 1113 Estero Blvd

Instrument Number: 2010000232448

Grantor: FIFTH THIRD BANK

Grantee: LEE COUNTY

Purchase Price: $5,600,000.00

Purchase Date: September 13th, 2010

Description: Now a vacant lot, it used to be the location of a multi-story shopping center that housed several restaurants and shops. The land is planned to be part of the parking garage if sold to Grand Resorts.GR parkinglotGR oceanjewels

Finally, there are two additional sites that Torgerson recently announced his purchase of this past December: The old location of Ocean Jewels, located on 1054 Fifth Street, from owner John Richard, and a paid parking lot located at 1046 Estero Blvd, next to the Sunset Beach Tropical Grill. The previous owner of the lot was Persaud Properties, who bought it in 2014 for $3,150,000. The final details on these purchases have not been released. The Ocean Jewels Building will be the part of the project that will be replaced by the large parking structure, and the Paid Parking Lot will become the North end of the planned Hilton Resort & Hampton Inn, if current plans hold.

Information for this story was obtained through the Lee County Clerk or Court Office and the Lee County Property Appraiser.

By Trent Townsend

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