Chrysler Group buys test track, leases Harley-Davidson portion

BUYER: Chrysler Group LLC (Sergio Marchionne and Richard Palmer), Auburn Hills, Mich.
SELLER: Harley-Davidson Motor Co. Operations Inc.
PROPERTY: 5301 34th Ave. S.E., Naples
PRICE: $7 million
PREVIOUS PRICE: $6.5 million, December 2002
LAW FIRM ON DEED: Fennemore Craig, Phoenix, Ariz.

PLANS, DESCRIPTION: Automaker Chrysler Group LLC purchased a 531.02-acre private test track north of Interstate 75/Alligator Alley for $7 million.

The price equated to $13,182 per acre. That figure is below the two-year average price per acre for industrial space ($441,091) in Southwest Florida, according to the CoStar Group.