Naples office complex sells for $23 million

A two-building Naples office complex has sold to a group of local investors in a deal the broker says proves the sector remains strong in the city.

The buildings— Collier Place 1 and 2 — are at 3001 Ninth St. N., just off U.S Highway 41 and north of Harbour Drive. Collier Place sold for $23.26 million to an LLC named Collier Place Owner.

The seller is Collier Place Holding, which Collier County property records show, paid $12.85 million in 2019.

Max Molloy, a senior broker associate with Fort Myers-based LSI Cos., says the buyer is a group of local investors who bought it together and plan to make some improvements.

The 60,572-square-foot complex sits on about 3.6 acres and was 97% occupied at the time of sale, with about 15 tenants.

“Naples is kind of in a renaissance and really there's still a need for Class A office space,” Molloy says.

“Office,” he adds, “may be struggling in other markets, but in Naples, in particular core Naples, there's still absolutely investor appetite for it.”

Molloy brokered the deal along with LSI’s Alex Henderson and Sawyer Gregory.