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BUYER: 3827 Progress Avenue Inc. (principal: Jean Camposano), Naples
SELLER: Brown & Franics Properties Florida LLC
PROPERTY: 3827 Progress Ave., Naples
PRICE: $1.45 million
PREVIOUS PRICE: $1.37 million, May 2003
LAW FIRM ON DEED: Salvatori Wood & Buckel PL, Naples
PLANS, DESCRIPTION: Steve and Jean Camposano, owners of Naples-based High Velocity, purchased the 26,140-square-foot former Rexel industrial building for $1.45 million.
The price equated to $55 per square foot.
The Camposanos are moving their hurricane protection/hurricane shutter company to the Progress Avenue building from a leased location at 3390 Mercantile Ave.
“We felt that given the economic times and that we had been renting for all these years that it now made sense that we own,” says Steve Camposano. “We were able to secure 100% financing. It will be a huge savings for us.”
The 19-year-old building, which is almost double the company's existing 15,000-square-foot leased location, is expected to save the company $5,000 a month.
The new owners are planning some roof and mechanical work and fire alarm improvements with the goal of having the company operating in the new building by the end of October.
The company plans to hire another five employees early next year based on those building cost savings and growth.
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