Naples real estate investor buys Southern Exposure Plaza

BUYER: 28340 Trail LLC (principal: Peter Takos), Naples
SELLER: Janis Hudson (5/12th interest) and Judith Bice (7/12th)
PROPERTY: 28340 Trails Edge Blvd., Bonita Springs

PRICE: $1.8 million
PREVIOUS PRICE: $1.2 million, September 1996
TITLE FIRM ON DEED: Security Title & Abstract LLC, Fort Myers

PLANS, DESCRIPTION: Naples real estate investor Peter Takos purchased the 21,797-square-foot Southern Exposure Plaza retail center adjacent to U.S. 41 for $1.8 million.

The price equated to $83 per square foot. That figure is lower than the two-year average price per square foot for retail space ($140) in Southwest Florida, according to the CoStar Group.

Gary Tasman and Shawn Stoneburner of Cushman and Wakefield | Commercial Property Southwest Florida LLC handled the sale.

Tasman says the center was 20% vacant at the time of the sale and that it was sold based on the current income stream with the added potential to get it fully leased.