Hoffman Commercial Real Estate Acquires Retail Portfolio in Naples for $74.4 Million

by Katie Sloan

Naples, Fla. — Hoffman Commercial Real Estate has acquired a seven-building portfolio on 5th Avenue in Naples for $74.4 Million.

The portfolio totals 122,276 square feet and consists of 73,523 square feet of street-level retail space, 48,753 square feet of office space and a 1.1-acre development site which currently serves as a 115-space parking lot.

The portfolio is 86.2 percent leased to tenants including Wells Fargo Bank, TD Bank, TD Ameritrade, Berkshire Hathaway Real Estate, PNC Bank, SunTrust Bank, Starbucks Coffee, Tervis Tumbler and Provident Jewelry.

Manuel De Zárraga, Daniel Finkle, Luis Castillo and Nat Scarmazzi of HFF worked on behalf of the seller, Naples Fifth Avenue Holdings LLC, alongside Rod Castan of Courtelis Leasing and Management. 

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