Salvation Army buys Kia building, plans Fran Cohen Youth Center

BUYER: The Salvation Army (principals: William Roberts, David Jeffrey, F. Bradford Bailey, Stephen Ellis, Samuel Henry and Larry Broome) Atlanta
SELLER: Naples Auto Investors I LLC
PROPERTY: 1472 Airport Road S., Naples
PRICE: $2.96 million
PREVIOUS PRICE: $4.4 million, July 2004

PLANS, DESCRIPTION: The Salvation Army Naples Corps purchased an 11,608-square-foot former Kia dealership building on 2.7 acres for $2.96 million.

The price equated to $255 per square foot. That figure is higher than the two-year average price per square foot for retail space ($140) in Southwest Florida, according to the CoStar Group.