Fort Myers-based Seagate Development Group is set to manage its first retail plaza in Naples. The company’s affiliate, Naples Liberty Group LLC, purchased Liberty Plaza from Naples Venture I Inc. for $11.75 million on Dec. 22.
David Stevens and Robert Carroll of Investment Properties Corp. represented the buyer while Marc Zampell of Nationwide Residential & Commercial Real Estate represented the seller.
Liberty Plaza, just south of Pine Ridge Road on the west side of U.S. 41, features three stand-alone office and retail buildings. Tenants include Don Tequila Mexican Restaurant, Fox Alteration Studio, Pelago Café and Juicelation. SW Management & Realty will provide property management services and Carroll will maintain leasing services for the property with more than 50,000 square feet of rentable space, 98% of which is currently leased.
“Liberty Plaza has stood the test of time, showcasing locally owned businesses in a prime location,” Seagate Chief Operating Officer James Nulf Jr. said. “We are proud to bring the knowledge and expertise gained from the successful development and management of our Southwest Florida retail and office spaces, including the recent sale of Arbor Towne Square in Fort Myers, to our first retail plaza in Naples.”
Seagate sold the 30,000-square-foot Arbor Towne Square on Colonial Boulevard last summer for $5.1 million.