61-acre plot of land at intersection of US-41 and Alico Rd sold for more than $20 million

FORT MYERS, Fla. —

A 61.3-acre plot of land along US-41 and Alico Road in Fort Myers was sold for over $20 million on Friday.

According to a release from LSI Companies, the mixed-use property in Fort Myers was acquired by Ryan Companies from Jared Holes, Trustee, for $20,451,050.56.

The property required full rezoning and the rescission of a former Development of Regional Impact. Now approved, the property could allow for 350 multifamily units, up to 200,000 square feet of commercial space and 150 hotel keys.

Ryan Companies, based in Minneapolis, develops a variety of properties. The company plans to deliver a large-scale mixed-use project known as Dia Crossings.

“Development at this scale requires a formula of strong economic fundamentals, a team of expert consultants, high-quality leadership, and, of course, a willing buyer and a willing seller,” said Alex Henderson, who represented LSI Companies. “Thankfully, this proved true for Dia Crossings, and we can’t wait to see this project take shape in the very near future.”

“This property is one of the last remaining large-scale development tracts along the South Tamiami Trail corridor in Lee County,” adds Max Molloy, who also represented LSI Companies. “We are excited to see this mixed-use retail and residential project come to life and look forward to continued efforts in bringing high-quality commercial users to the corridor.”

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