A rendering showing plans for the Sheraton Hotel

In a transaction facilitated by Fort Myers' Fischler Property Company, California's BACC Hotel, LLC recently purchased 12.5 acres of property adjacent to the Bradenton Area Convention Center in Palmetto for $5.3 million. BACC Hotel and San Francisco's In Development Partners plan to build an eight-story, 251-room Sheraton Hotel on the property, plus a second 126-room hotel, an 18,000-square-foot, two-story connecting building and restaurant and retail space. The estimated total construction cost is $60 million.