Office buildings in downtown Naples sell for $13.9M

The buyer, Hoffman Commercial Real Estate, calls itself the largest commercial property owner in Naples

Petit Square at 294 14th Avenue South in Naples
Petit Square at 294 14th Avenue South in Naples

A major investor in commercial properties in Naples bought two office buildings in the downtown area for $13.9 million.

Hoffman Commercial Real Estate paid $7.3 million for Petit Square, an 8,616-square-foot office building at 294 14th Avenue South.

Hoffman paid $6.63 million for another office building at 271 Broad Avenue South.

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The two office buildings bring to 17 the number of Naples properties that Hoffman has acquired in the last three years.

Hoffman has contracts to buy four more buildings in downtown Naples by the end of January, which would boost the company’s total investment in Naples properties to more than $250 million.

According to its website, Hoffman is based in Chicago and ranks as the largest owner of commercial property in Naples. [Business Observer] — Mike Seemuth

 

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