CRE Consultants Sells 1100 Fifth Ave S

06/05/2017

Naples, FL – Randal Mercer, Brandon Stoneburner and Scott Dunnuck of CRE Consultants negotiated the sale of the Regions on Fifth building at 1100 5th Avenue South in Naples.

This 52,708-square foot, Class A office tower and parking structure on 1.56 acres is located at the southeast corner of 5th Avenue South and 11th Street South, in the heart of one of the most affluent and prestigious destinations in the United States.

The building is a fully- stabilized high-end signature office property with an average occupancy of 90% over the past twelve years. The buyer, 1100 5th Ave, LLC, purchased the property as an investment for $16,000,000, which was 95% of the asking price.

The investment sold for a 6.25% cap rate and, after offers from multiple parties, was under contract within 60 days of bringing the asset to the market.  

Serving Fort Myers, Cape Coral, Lehigh Acres, Estero, Bonita Springs, Naples, Marco Island, Port Charlotte, Punta Gorda, Sarasota, Manatee County, Hendry County, Stuart and all of Florida.