Jaws of death! Hungry alligator snags turtle at Estero golf course for amazing photo opportunity

Hoffmann Commercial Real Estate continues buying spree in downtown Naples

Hoffmann Commercial Real Estate purchased this property at 360 12th Ave. S., as well as property at 350, 370 and 382 12th Ave. S., in downtown Naples, adding to its collection of more than 20 properties in the area. Seen here Tuesday, Jan. 13, 2018.

Hoffmann Commercial Real Estate has done it again.

The St. Louis-based real estate holding company has made two more purchases, adding to its collection of more than 20 properties in the Naples area. 

The company has bought the Bevy restaurant building at 360 12th Ave. S. and three other retail properties nearby — 350, 370 and 382 12th Ave. S.

Additionally, the firm has closed on 990 First Ave. N., a retail building known as the Design Park. 

The real estate company had already announced plans to acquire several of the properties after signing contracts to purchase them last year, but the deals included buildings it had not previously revealed as targets.

More: Hoffman Commercial Real Estate sets its eyes on Third Street South

More: Hoffmann Commercial Real Estate snatches up two more buildings near Third Street for $6.25 million

More: Hoffmann Commercial Real Estate buys two more buildings as Third Street expansion continues

More:North Naples shopping center sells for $19 million

With its latest purchases, Hoffmann, a division of Osprey Capital, has snatched up another $24.5 million in real estate, bringing its total investment to more than $270 million in the Naples area. The latest sales closed Friday.

Hoffmann purchased the buildings on 12th Ave. S., with a combined 8,802 square feet of retail, for $10.5 million. The seller for those properties was S.V.M. Building LLC. The sale didn't include upper-floor residential condominiums.

Hoffmann Commercial Real Estate, a St. Louis-based real estate holding company, has purchased property at 350, 370 and 382 12th Ave. S. in downtown Naples, as well as 360 12th Ave. S., adding to its collection of more than 20 properties in the area. Seen here Tuesday, Jan. 16, 2018.

The Design Park building, with 11,560 square feet of retail, fetched $14 million. The seller was NRE Design Park LLC. Tenants include Raymond Building Supply. 

David Stevens, a principal in Naples-based Investment Properties Corp., negotiated the two transactions. 

"This marks the continuation of an aggressive acquisitions strategy by the Hoffmann family," Stevens said. The 12th Avenue property obviously is a logical addition to other recent purchases in the Third Street area. While the Design Park varies geographically than other purchases on Fifth Avenue and Third Street, it certainly qualifies as a unique new exciting property in the 34102 zip code."  

The buildings on 12th Avenue South include a collection of higher-end boutiques that "fit with the Hoffmann criteria," he said.

Hoffmann has other property under contract nearby.

The company's last few purchases include office buildings at 271 Broad Ave. and at 292-296 14th Ave. S., known as Petit Square.

In a news release, the company said it plans to continue purchasing properties to realize an end goal: "the creation of attractive, welcoming retail neighborhoods where local businesses can flourish."

Hoffmann arrived on the scene in downtown Naples in a big way in 2015, when it purchased seven buildings and a parking lot for $74.35 million.

The rapidly growing company has a diverse portfolio of retail, office, multifamily housing and industrial property, as well as land in development, across nine states.