Naples retail building sold by Hoffmann in 2023 is sold, again

One of the buildings sold when The Hoffmann Family of Cos. cashed out on a 27-property Naples portfolio has once again changed hands.

The retail building is at 375 13th Ave. S. Hoffmann sold it to M Development in October 2023 for $2.9 million as part of an $186 million portfolio sale. The package included 12 buildings on Fifth Avenue South, nine on Third Street South and six off U.S. 41 in Naples.

Aspen, Colorado-based M Development has now sold the 375 13th Ave. S. property to a Commerce Township, Michigan LLC for $6.8 million, according to Collier County property records.

Family-owned Hoffmann has offices in Naples, St. Louis and Chicago and owns more than 125 companies with 400 locations in 30 countries. It began buying properties in Naples again two years after the big sell off.