New York investor pays $137M for Tampa Bay hotel

Dinner and a deal: A Naples property where a Perkins Restaurant and Bakery once operated has been sold. It is at 4335 Tamiami Trail, about three miles from the Naples Bay Resort & Marina. The buyer was an LLC with an address matching the Nashville real estate firm Grace Development. LQ Commercial Real Estate Services, which announced the deal, says the buyer paid $2.17 million for the 5,854-square-foot retail property. The seller, which LQ represented, was LJ1, a Clay County LLC listed to a residential address in Keystone Heights. According to county records, the individual listed as the manager of LJ1 paid $1.95 million for the property in December 2007 then transferred it to LJ1 in February 2008. Grace is a commercial real estate owner and developers with properties across the Southeast and in New York. According to its website, Grace currently has $300 million in assets under management and is focused on Nashville, Dallas and South Florida. Among its Florida properties are Sutton Place and the Boulevard Shoppes, both on Naples Boulevard. LQ’s Jessica McEvoy and Tom Strauss represented LJ1.

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