RCG Ventures buys Naples Towne Centre for $7.3 million

BUYER: RCG-Naples LLC (RCG Ventures Fund III LP), Atlanta
SELLER: Ramco-Gershenson Properties LP
PROPERTY: 3721 and 3775 Tamiami Trail E., Naples
PRICE: $7.3 million
PREVIOUS PRICE: $4.92 million, March 2003 and $2.16 million, May 1996
LAW FIRM ON DEED: Honigman Miller Schwartz and Cohn LLP, Bloomfield Hills, Mich.

PLANS, DESCRIPTION:
Atlanta-based RCG Ventures purchased the 134,707-square-foot Naples Towne Centre shopping center for $7.3 million.

The price equated to $54 per square foot. That figure is less than the two-year average price per square foot for retail space ($144) in Southwest Florida, according to the CoStar Group.