Billionaire Buys Holiday Court Property For $9.25 Million

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The .76 acre piece of property is located at 925 Estero Boulevard across from Lynn Hall Park. The 2-story motel previously located on that property was destroyed in Hurricane Ian and was demolished. The lot is now empty.

Back in 2021, the property sold for $5 million and in 1992 it sold for $10,000. The motel has been around since 1952 according to Lee County documents.

The new owners are successful entrepreneurs and philanthropists Thomas and Chantel Bagwell out of Cumming, GA. Thomas Bagwell took over a company his father started called American Proteins as CEO in 1972 when his dad passed away. When Bagwell took over, the company generated $10 million in annual sales and had 50 employees. By 2006 Bagwell had grown the company to 650 employees with annual sales of $250 million. Bagwell sold the company to Tyson Foods for $850 million in 2018.

The husband and wife duo launched The Chantal and Tommy Bagwell Foundation in 1996 where they donate over $5 million every year to causes they support.

Jesse Schmid, who owned the Holiday Court property, and was having the units upgraded before the storm, has been coming to Fort Myers Beach for decades. He also owned several other properties on the island, including a number of beachfront homes. He told Beach Talk Radio News Tuesday night, it was just time to move on rather than go through the long process of rebuilding. Schmid also owns a commercial truck rental business in Illinois.

 

21 COMMENTS

  1. Stayed there many times. Ian destroyed FMB for good, it is going the same way as Clearwater, a faceless, corporate, concrete jungle. Chain ‘resorts’ staffed by out of state staff, sending profits to out of state corporations.

    • So over the constant “repeat” drama. Concrete… Miami…greedy… coorporate… etc…etc. the reality is, Ian took the buildings away, owners decided not to rebuild and now the properties are sold to the next guy. If you want FMB back, step up to the plate, buy something and rebuild it the way you would like to see it.

      • Absolutely! I get tired of the whiners complaining that owners of destroyed properties have the nerve to sell at a profit instead of rebuilding just to struggle with high taxes and insurance and fickle occasional customers who act like they own the place.

  2. I spent a lot of time in Cuming and Forsyth County, GA over the years and once worked on a project for American Proteins. Tommy Bagwell is an outstanding citizen and has done a lot of good philanthropically for the town and the county. He’s not a developer type just out to make a buck and run. It could pay dividends for a key FMB citizen/town father to reach out, welcome him and his wife and provide some insight into what FMB is all about. He’s the type of guy who will want to the right thing and help keep FMB true to its past, to the extent possible and practicable given all the code requirements and red tape.

  3. Congratulations to the new owners, and congratulations to Fort Myers Beach, which is precisely what we need. Successful entrepreneurs rebuilding the beach

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