Hoffmann Executive Suites will expand in downtown Naples with Hoffmann Commercial Real Estate’s acquisition of the IberiaBank building on the corner of U.S. 41 and Fourth Avenue South.
Hoffmann is under contract to purchase the IberiaBank building in downtown Naples, the company announced Monday night. Following last year’s merger with First Horizon Bank, IberiaBank will be rebranded First Horizon in early 2022 and close its location at 428 Ninth St. S. on Feb. 18, Hoffmann reports.
The acquisition of the two-story bank building will allow Hoffmann Executive Suites to add a fifth property in Naples for leasable professional office space. The other four buildings are nearby on Fifth Avenue South.
“We are currently at 100% capacity with a waitlist for our executive suites,” says Madelene Columbus, president of Hoffmann Executive Suites. “We currently provide offices for 135 clients in our existing locations in addition to over 115 virtual clients. There is a growing demand for executive offices in the downtown Naples area and we are excited to be adding the new location to the HES portfolio.”
The bank building, which has a wrap-around balcony on the second floor, will allow for the creation of an additional 16 luxury executive suites. Each location offers furnished suites varying in size from single suites to multi-office suites with conference and meeting rooms, reception services, private parking, daily housekeeping, high-speed internet, package services and a full kitchen with unlimited coffee, teas and water. Day offices and conference rooms are also available as well as virtual office services with incoming mail handling and administrative support.
Hoffmann Executive Suites also operates a location in Avon, Colorado, called Basecamp Executive Suites. The Naples acquisition will be the 36th building purchased in Southwest Florida since 2015 by Hoffmann, the largest privately held commercial real estate company in Naples. The company, which owns Hertz Arena and the Florida Everblades hockey team, recently acquired the Old Collier Golf Club in North Naples and the Old Corkscrew Golf Club in Estero.
Incidentally, the Naples address of the IberiaBank branch is well known as a drive-thru liquor store decades ago and the former home of Swamp Buggy Lounge, a popular drinking spot and local hangout. The Swamp Buggy closed in 2002 and was demolished in 2004. Orion Bank bought that .29-acre property in 2002 for $1.1 million before it became IberiaBank in 2010, Collier County property records show.
