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.
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.