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South Florida

Naples’ City Gate Commerce Center property hits the market for $56.5 million

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The remaining 240 acres of the City Gate Commerce Center in Naples has been put on the market for a total of $56.5 million, according to Marcus & Millichap, which has the exclusive listing on the property. The site consists of seven commercial pads and 18 industrial pads listed for $24.8 million, along with 180 acres of undeveloped land listed for $31.72 million. The entire site totals 288 acres. Other sites within City Gate have been purchased by Marriott hotel developers, British Petroleum and others. Marcus & Millichap’s Bradley Addicks, an associate in the firm’s Fort Lauderdale office, is representing the seller, City Gate Development. — Alexander Britell

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Marcus Millichap