Clearwater apartment building, going back to affordable housing, sold for $22.5M

Fort Myers/Naples

Firm’s client looks to buy high-end properties

A high dollar buyer is in search of Southwest Florida properties. TD Commercial Group’s Symonette-Whelan Team is sending out marketing materials letting other brokers and property owners know that it has a “high net worth” client looking to buy in Fort Myers and Naples. The team would not disclose who the buyer is or share details only saying in an email to the Business Observer that the client is a “very private individual.” So, what is the individual looking for? Investment grade single tenant “trophy assets” including grocery stores, medical buildings and CVS locations — not Walgreens — with triple net leases. The properties need to be priced between $5 million and $15 million with a cap rate above 5%. In addition to Fort Myers and Naples, the buyer is interested in properties in other populous Florida markets, including Tampa. St. Petersburg, Orlando and South Florida. Symonette-Whelan says the buyer has no interest in Daytona, Jacksonville or the Panhandle.