Plaza Advisors is pleased to announce the sale of the Naples Towne Center in Naples, Florida. The 134,707 square foot retail plaza is located on US 41 and is in close proximity to several national retailers including Home Depot and Walmart Supercenter. The plaza was 80% occupied at the time of closing. The Naples Town Center tenant roster includes; Bealls Department Store, Dollar Tree, Rent-A-Center and Sprint (T-Mobile).
US 41 is the main retail/commercial corridor serving Florida’s west coast communities, from Tampa to Naples. The plaza has excellent visibility and has more than 45,000 vehicles passing the plaza daily. The five mile trade area radius features demographics of more than 106,000 residents with an Average Household Income (AHHI) exceeding $86,000. Additionally, there are more than 3,000 government employees nearby.
The seller was Atlanta based RCG Ventures. The Buyer was a New York based family office. Jim Michalak and Keith Nurre of Plaza Advisors represented the seller and were the sole brokers involved in the transaction.
Naples Town Center is the fifth center Plaza Advisors has sold during the pandemic in 2020.
Plaza Advisors is a real estate brokerage firm that specializes in the disposition of retail properties throughout the Southeastern United States. Plaza Advisors’ clients include private equity investors, developers, and major institutions including fund advisors, life insurance companies, REITs, and money center banks.