Pavilion Terraces, located at 9051 Tamiami Trail North in Naples, recently sold to L&A Realty Company for $6.2 million. The 25,750sf retail strip center is 100% occupied.
Biagio Bernardo, Bill Young and Larry Foster, CCIM, of Fort Myers-based CRE Consultants, facilitated the sale.
According to the brokers, the center was an ideal acquisition for an investor seeking stabilized in-place income. Other selling points included a trade area with strong fundamentals and the center’s strategic location in the heart of north Naples’ retail district.
“In a market with compressed cap rates and continuing low interest rates, competition for quality investment product is fierce but achievable,” says Bernardo, citing Pavilion Terraces as proof.
For more information, please visit www.creconsultants.com or call (239) 481-3800.
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