search

The Real Deal Logo

Trending

Billionaire hedge funder Larry Robbins makes South Florida moveBillionaire hedge funder Larry Robbins makes South Florida moveHousing deal finally passes; here are the detailsHousing deal finally passes; here are the detailsYellowstone drops approximately $200M on 1740 Broadway debtYellowstone drops approximately $200M on 1740 Broadway debtBears, White Sox ramp up new stadium plansBears, White Sox ramp up new stadium plans
Commercial
South Florida

Naples portfolio commands $608 per square foot

Naples buildings sold by HFF client Fifth Avenue Holdings.
Naples buildings sold by HFF client Fifth Avenue Holdings.

Brokerage firm Holliday Fenoglio and Fowler L.P. (HFF) announced the sale of seven buildings in Naples for $74.35 million, or about $608 per square foot.

HFF represented the seller, Naples Fifth Avenue Holdings, LLC, and got marketing assistance from Miami-based Courtelis Company, which handled leasing and building management for Fifth Avenue.

Sign Up for the undefined Newsletter

The buyer is Hoffman Commercial Real Estate, based in St. Louis, Missouri.

The seven-building portfolio in Naples covers a combined 122,276 square feet, including 73,523 square feet of street-level retail space and 48,753 square feet of office space.

The buildings are clustered on a 1.1-acre site at the corner of 4 Avenue and 4 Street in Naples. They are 86.2 percent leased to tenants including Wells Fargo Bank, TD Bank, TD Ameritrade, Berkshire Hathaway Real Estate, PNC Bank, SunTrust Bank and Starbucks.

Tags
BanksCommercial Real EstateHffNaplesReal Estate Trusts