New Market Properties acquired the Neapolitan Way Shopping Center in Naples, Florida, from the Trammell Crow Company for $37.8m. The buyer, a wholly owned subsidiary of Preferred Apartment Communities Inc., paid just over $276 per sq ft. Built in 1986, the 136,580 sq ft Publix-anchored retail center also houses a Walgreens drugstore and a Cibao Grille restaurant. New Market Properties now owns seven retail properties throughout Florida in Naples, Orlando, Parkland and Spring Hill.
