Hoffman Commercial Real Estate has paid $74.35 million for seven buildings on 5th Avenue in downtown Naples, Florida. The purchase totals 122,276 square feet with 73,523 square feet of street-level retail space, 48,753 square feet of office space and a 1.1-acre site which serves as a 115-space surface parking lot. The buildings are 86.2 percent leased with tenants that include Wells Fargo Bank, TD Bank, TD Ameritrade, Berkshire Hathaway Real Estate, PNC Bank, SunTrust Bank and Starbucks. The portfolio is clear of an existing debt.
