NAPLES, FL—City Gate Commerce Center, a partially developed, 288-acre mixed-use development opportunity in Naples, is up for grabs. Marcus & Millichap has the exclusive listing on the remaining 240 acres, which listed at $56.5 million.
There are seven commercial pads and 18 industrial pads listed for $24.785 million. There is also 180 acres of undeveloped entitled land listed for $31.72 million. The entire development site spans 288 acres. Marriott, British Petroleum, GE Capital, Capital Bank, and a Burger King franchisee, among others, have already purchased sites in the mixed-use development.
Bradley Addicks, an associate in the firm’s Fort Lauderdale office, is representing the seller, City Gate Development LLC. Addicks did not return calls seeking comment, but stated in a press release that City Gate is an “ideally located retail, light industrial and office park with convenient access to Interstate 75.”
Specifically, City Gate is located at the intersection of Interstate 75 and Collier Boulevard. City Gate is fully entitled for 2.7 million square feet of commercial, light industrial, office, warehouse and distribution use. The seven developed commercial pads range from approximately one acre to two acres and are available for lease. The 18 industrial pads range in size from approximately two acres to four acres.
“Investors and developers knowledgeable in the industrial and commercial arenas, and the land market in Florida, will find significant value in this fully entitled property in this vibrant area of Southwest Florida,” Addicks commented.
City Gate Commerce Center is located at the first exit on Interstate 75 as drivers cross the Everglades from east to west. Interstate 75 East provides direct access to Fort Lauderdale and Port Everglades as well as to key industrial transportation points: the Fort Lauderdale-Hollywood International Airport is approximately a one-and-a-half hour drive away, and the Port of Miami and Miami International Airport are approximately two hours away. These ports and airports serve as major export and import terminals for markets in the Caribbean and Latin America.