Grace Development company buys Naples' Plaza North

BUYER: Bellevue Properties LP (Bellevue Valley Co. Inc.), Nashville
SELLER: Patton Avenue Holdings LLC
PROPERTY: 10265 Tamiami Trail N., Naples
PRICE: $1.9 million
PREVIOUS PRICE: $6.28 million, May 2009 (contains additional property)
LAW FIRM ON DEED: Conroy Conroy Durant & Rudnick PA, Naples

PLANS, DESCRIPTION: An affiliate of Nashville's Grace Development purchased the 9,964-square-foot Plaza North retail center for $1.9 million.

The price equated to $191 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.