Hoffmann Commercial Real Estate sets its eyes on Third Street South

After snatching up a dozen properties on and around Fifth Avenue South in downtown Naples, Hoffmann Commercial Real Estate has set its eyes on another well-known shopping and dining street.

Hoffmann, headquartered in St. Louis, announced Monday that it has five buildings under contract on or near Third Street South. The properties are at:

» 350-382 12th Ave. S.

» 292 14th Ave. S.

» 393 Broad Ave. S.

» 381 13th Ave. S.

» 375 13th Ave. S.

Asked when the purchases would be finalized, Greg Hoffmann said "very soon."

"They all won't close on the same day," he said.

The buildings are nearly 100 percent leased.

"These are all attractive buildings," Hoffmann said. "They've got great tenants. "

Tenants include Le Lafayette, Harmon-Meek | modern, Premiere Plus Realty, Clorinda Antinori, The Bevy, Ooh Ooh Shoes, Maus & Hoffman, Carolyn's Off Third, BCB Homes, Meridian Holdings, JBM Institutional Multifamily Advisors, Galerie du Soleil, Fabrice Hair Studio and Jose Aragon Jewelers.

The five purchases would bring Hoffmann's portfolio in Old Naples to 17 properties, but the company doesn't expect to stop there. The business plans to own 20 to 25 properties on and around the two streets by year's end, said Hoffmann, a principal in the firm.

Hoffmann Commercial Real Estate wants to create "one shopping and downtown experience" on the two streets by featuring some of the same tenants on both through smaller pop-up stores, by providing transportation between them and by promoting them as "Old Town."

"Any way that we can find a link between the two is what we are going after ... to kind of create a seamless experience for the shopper when they come to the area," Hoffmann said.

He describes Old Naples as "one of the most desirable attractions in the world."

Previous real estate coverage:

• Naples developer plans downtown waterfront dining
• Southwest Florida building boom is a boon to buyers
• Two Gulf-front mansions in Naples among priciest homes for sale in Florida
• Watkins family eyeing options for Naples Beach Hotel & Golf Club property

As it has done on Fifth Avenue South, the real estate holding company plans to improve its buildings on Third Street by sprucing up facades, putting up statues and adding events to create more excitement and a better experience for visitors, Hoffmann said.

"We're all in this together," he said. "However we can promote the area best, it's in the best interest of everyone involved — the tenants, the shoppers, the community."

The real estate company, which has its headquarters in St. Louis, made a grand entrance onto Fifth Avenue South when it bought seven buildings and a parking lot for $74.35 million in 2015.

The rapidly growing family-owned business, with a diverse portfolio, has local ties. Its founder, David Hoffmann, and his wife, Jerri, live in Naples.

At a Glance

Here are the properties Hoffmann Commercial Real Estate owns on Fifth Avenue South:

305 Fifth Ave. S.

365 Fifth Ave. S.

375 Fifth Ave. S.

405 Fifth Ave. S.

625 Fifth Ave. S.

640 Fifth Ave. S.

649 Fifth Ave. S.

680 Fifth Ave. S.

780 Fifth Ave. S

898 Fifth Ave. S.

900 Fifth Ave. S.

The firm also owns land at 403 Fourth St. S., where it plans to build residential condominiums.

For more information visit: hoffmanncre.com/properties.