Naples investor buys former HRS building, land

BUYER: 222 IND LLC (PLC Management LLC), Naples
SELLER: Naples Office Suites LLC
PROPERTY: 222 Industrial Blvd., Naples
PRICE: $1.12 million
PREVIOUS PRICE: $1.43 million, June 2003

SELLER: Thomas and Sharon Buckley
PROPERTY: a vacant parcel south of Prospect Avenue and west of Industrial Boulevard in SEC 36-49S-25E, Naples
PRICE: $240,000
PREVIOUS PRICE: $300,000, July 2003
LAW FIRM ON DEED: Ross Lanier & Deifik PA, Naples

PLANS, DESCRIPTION: Naples real estate investor Peter Takos purchased the 19,000-square-foot former HRS building and an adjacent 1.24-acre parcel for $1.36 million.

The price equated to $72 per square foot. That figure is less than the two-year average price per square foot for office space ($120) in Southwest Florida, according to the CoStar Group.

Located on 2.27 acres in Naples Production Park, the building was constructed in 1974 as a warehouse for a roofing contractor. Later it was remodeled into an office building for HRS. The two-story building features 85 executive suite offices with a break room and conference rooms on the first floor and an open attic space on the second level.

Fred Kermani of CRE Consultants represented the seller and Gary Hains of Gulf Breeze Real Estate represented the buyer.

The buying entity, 222 IND LLC, mortgaged the property to the seller Naples Office Suites LLC for $450,000.