Stock buys site for condo tower

One of Collier County's largest real estate development firms has purchased one of Naples' few remaining waterfront tracts for a 300-unit, luxury condominium tower.

Stock Development LLC bought the 3.55-acre site, at 9136 Gulf Shore Drive, for $19.7 million, according to commercial real estate brokerage Colliers International Southwest Florida.

The property, which contains a marina, residences, commercial space and vacant land, is scheduled to be redeveloped as an 18-story condo tower known as One Naples. It is also adjacent to the Ritz-Carlton Hotel in Naples.