Naples office sets sale record

NAPLES — Minneapolis asset management firm Olympus Ventures LLC has purchased the Fifth Third Center office building for $49.9 million. The price equated to $310 per square foot.

According to property records, the seller was Naples-based FTC Naples LLC. Officers of FTC Naples' parent, FTC Naples Manager Inc., include Richard Crawford of Naples; John Erb of Bloomfield, Mich.; Ira Jaffe of Southfield, Mich.; and Carl Craft of Birmingham, Mich.

The sale is the largest individual commercial sale in Collier County in at least the past three years, according to the Collier County Property Appraiser's office. The second-largest sale during that period was The Blackstone Group's purchase of the Carillon Place shopping center in June for $35.35 million.