BUYER: Brown & Nelson LLC (principal: Dawn Litchfield Brown and Dennis Nelson), Naples
SELLER: Winfield & Associates Inc.
PROPERTY: 10001 Tamiami Trail N., Naples
PRICE: $1.1 million
PREVIOUS PRICE: $425,000, March 1999
LAW FIRM ON DEED: Salvatori Wood & Buckel PL, Naples
PLANS, DESCRIPTION: Dawn Litchfield Brown and Dennis Nelson, owners of Naples Money Management LLC, purchased the roughly 10,000-square-foot former Amerivest Realty building for $1.1 million.
The building features two full stories and a smaller third floor with a conference room area. Amerivest Realty previously occupied the entire building and will continue to lease the second floor. Naples Money Management, which is being renamed The Naples Money Managers, will take the 4,000-square-foot first floor. The two companies will share the third floor.
“It's a great-looking financial building both inside and out,” Brown says. “The price also was right. As a company we've been looking for a building on and off since 1987. Other than some cosmetic clean up, the building is almost perfect. This just shows it pays to be patient.”
The new owners hope to use the additional space in the building to allow it to acquire other investment advisers. Brown and Nelson expect to relocate their business in June or September.