NAPLES, FL—It's the largest office purchase inNaples, FL this year. The SunTrust Building in Naples just tradedhands in an off-market deal for $17.3 million.
Steelbridge Capital acquired the seven-story,68,593 square foot office building. The company plans to repositionthe asset by implementing a capital improvement plan to beef up itsclass A status.
“We viewed this as an opportunity to acquire a value-add, toptier class A office building within an in-fill location in Naples,FL, a high-growth and affluent city where there is a limited supplyof institutional quality office assets that are infrequentlyoffered for sale,” Gavin Campbell, managingprincipal, Steelbridge, tells GlobeSt.com. “As an example, thisproperty has been under the same ownership for nearly 30years.”
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