Naples Redevelopment buys Summit Medical Building

BUYER: Markit LLC (principal: Adam Smith), Naples
SELLER: First Avenue Building LLC
PROPERTY: 990 First Ave. S., Naples
PRICE: $1.9 million
PREVIOUS PRICE: $200,000, June 1984
LAW FIRM ON DEED: Wilson & Johnson, Naples

PLANS, DESCRIPTION:
Naples Redevelopment Inc. purchased the 10,559-square-foot Summit Medical Building for $1.9 million.

The price equated to $180 per square foot. That figure is higher than the two-year average price per square foot for office space ($131) in the Southwest Florida, according to the CoStar Group.