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BUYER: A&D Real Estate Holdings II LLC (principal: Donald Smith), Naples
SELLER: Special Acquisitions Holdings Inc.
PROPERTY: 2380 Vanderbilt Beach Road, Naples
PRICE: $2 million
PREVIOUS PRICE: $1.32 million, September 2005
LAW FIRM ON DEED: GrayRobinson PA, Miami
PLANS, DESCRIPTION: A company run by Naples restaurateur Donald Smith purchased the 7,039-square-foot Uno Chicago Grill restaurant building for $2 million.
The price equated to $284 per square foot.
The purchase includes furniture and equipment from the restaurant.
Smith, who owns Angelina's Ristorante in Bonita Springs, plans to renovate the three-year-old building and open a Southwestern-style restaurant in the space.
Matt Stepan of Premier Commercial Properties represented the seller, an affiliate of TIB Bank. Michael O'Mara of John R. Wood Realtors represented the buyer.
Smith's restaurant is scheduled to open in the third quarter.
“The price was a function of the location,” O'Mara says. “It's at the intersection of two major roads, Airport Road and Vanderbilt Beach Road, with great visibility.”
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