NAPLES — An investment group and employee trust has acquired a four-building mixed-use commercial complex in the Tin City area of Naples — saving it from potentially being redeveloped into condos.
The buyers, under the entity The Shoppes at Dockside LLC, paid $4.89 million for the 22,000-square-foot property at 1100 6th Ave. S., according to Collier County property records. A mix of office, retail and restaurant space, with buildings dating to 1984, the complex, Dockside Shoppes, is currently 33% occupied, according to a statement. Tenants include Mino Italian Pizzeria, The Parrot Bar and Grill and more.
Clayton Coleman, an ownership representative, says in the statement that the previous ownership group, Brookline Companies LLC, planned to raze the property and redevelop it into condominiums. “When we learned this, we thought how terrible it would be to tear down such an iconic part of Tin City,” Coleman says in the statement.
Coleman and his partners, through an employee trust, plan to renovate the property. “We bought this nostalgic property to rescue it from demolition,” Coleman says. “We plan to restore it and lease it to unique local businesses.”
The Shoppes at Dockside LLC is managed by Coleman and Bonnie Reams The new owners also own The Shoppes at Vanderbilt in North Naples and have leased space to more than 85 local businesses over the past 11 years.