One of the buildings sold when The Hoffmann Family of Cos. cashed out on a 27-property Naples portfolio has once again changed hands.
The retail building is at 375 13th Ave. S. Hoffmann sold it to M Development in October 2023 for $2.9 million as part of an $186 million portfolio sale. The package included 12 buildings on Fifth Avenue South, nine on Third Street South and six off U.S. 41 in Naples.
Aspen, Colorado-based M Development has now sold the 375 13th Ave. S. property to a Commerce Township, Michigan LLC for $6.8 million, according to Collier County property records…