CRC Cos. Acquires Office Asset In Naples For $55.5M

The office property located at 5801 & 5811 Pelican Bay Blvd in Naples has been sold in a closed transaction. The property spans across 10 acres and is categorized as an office space. The transaction took place on 12/29/2021.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $55,500,000
• Square Footage: 177,600
• Price per Square Foot: $313
• Address: 5801 & 5811 Pelican Bay Blvd
• Market: Naples

CRC Cos. acquired the property from Steelbridge Capital, Square2 Capital, and Apollo Global Management. Patrick Fraley from Investment Properties Corp. represented the buyer in the transaction. On the other side, Chris Drew, Hermen Rodriguez, Ike Ojala, and Matthew McCormack from JLL represented the sellers.