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Two Naples investors buy U.S. 41 land near Treviso Bay

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  • | 10:49 p.m. November 19, 2010
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BUYER: Global Properties of Naples LLC (principals: James and Christopher Shucart), Naples

SELLER: Special Acquisitions Holdings Inc.

PROPERTY: a portion of Tamiami Trail East a mile and a half west from the intersection of State Highway 951 (Collier Boulevard) and U.S. 41, Naples

PRICE: $2.03 million

PREVIOUS PRICE: $5.59 million, January 2010

LAW FIRM ON DEED: GrayRobinson PA, Miami

PLANS, DESCRIPTION: James Shucart and his son Christopher Shucart of Naples purchased 30 acres on Tamiami Trail for $2.03 million.

The price equated to $67,500 per acre.

The duo plans to hold the property, at an entrance to Treviso Bay, as an investment for future development.

“It's one of the last large [Planned Unit Developments] in Collier County,” says Christopher Shucart. “It was previously approved for a PUD for commercial and residential space. The PUD expired, but we are looking at reinstating it.”

The former bank-owned site was appraised for a little more than $7 million in 2009.

The Shucarts also continue to acquire properties they sold during the top of the real estate market.

They purchased the 46,600-square-foot Hitching Post Plaza for $3.34 million earlier this year, for example. Then, in September, the Shucarts acquired 4.38 acres next to Hitching Post Plaza at the southeast corner of Barefoot Williams Road and Tamiami Trail East for $800,000. The Shucarts sold both properties in 2006.


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