Florida & Gulf Coast + South Florida + Retail | December 4, 2020

Plaza Advisors Arranges Sale of 135K-SF Retail Plaza in Naples

Plaza Advisors has arranged the sale of Naples Towne Center, a 134,707-square-foot retail plaza in Naples. The sales price was not disclosed.

Located on US 41, the center is nearby a number of national retailers including Home Depot and Walmart Supercenter. At the time of sale, the plaza was 80% occupied with a tenant roster that included Bealls Department Store, Dollar Tree, Rent-A-Center and Sprint (T-Mobile).

Jim Michalak and Keith Nurre of Plaza Advisors represented the seller, Atlanta-based RCG Ventures, in the transaction. The buyer was a New York-based family office. Naples Town Center is the fifth center Plaza Advisors has sold during the ongoing COVID-19 pandemic in 2020.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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