Naples island hits the market

More than 70 acres of beachfront property in Naples owned for some four decades by the prestigious Donahue family has come to market.

Commercial brokerage firm CBRE Group Inc., which is listing the Gordon Pointe and Keewaydin Island properties, describes them as among the “most significant assemblages of properties” in Naples history.

The Gordon Pointe properties consist of a trio of undeveloped lots and a yacht basin, while the island's offerings just north of Marco Island include a series of developable lots, Shore Station and Bay Marina.

“Our preference is to sell the whole thing at one time, but we're open to selling the individual parcels and pieces,” says Robert McEwan, the CBRE agent who is marketing the properties together with the firm's Steve Lehr.

He adds that neither CBRE nor John and Rhodora Donahue have attached a price to the properties.

“We've decided to take the properties to market unpriced because we really have no idea how much the market will value them,” McEwan says. “These properties are just so unique.”

Owner John F. Donahue is the founder and chairman of Federated Investors, a Pittsburgh-based mutual fund conglomerate that is the nation's third-largest money manager behind only Fidelity Investments and JP Morgan Chase, with about $400 billion under management.

The Donahues aren't selling their entire Naples portfolio, however. The couple intends to retain 100 and 104 Bay Road for the foreseeable future.