Business Observer Friday, Oct. 31, 2014
An affiliate of Amera Barron, a venture of Coral Springs-based Amera Corp. and Fort Lauderdale-based Barron Real Estate Inc., purchased 4.53 acres of vacant commercial land for $2.6 million.
The buyer plans to combine the property with four acres it owns and additional land to create an 11-acre parcel extending along the western side of Collier Boulevard/State Road 951 to U.S. 41.
Charlie Ladd, president of Barron Real Estate Inc., says the firm previously developed a bank building and a Carrabba’s Italian Grill in the area and the company felt the area had too few restaurants.
The firm plans to convert the property near Freedom Square into a development it calls Restaurant Row Naples. It plans to create 10 to 12 restaurants in a mixture of inline and freestanding buildings.
“This area is dying for restaurants,” he says. “There is a major residential presence in that area that is severely under restauranted. These [properties] will all be connected and you will be able to walk from one to another.”
Amera-Barron hopes to start construction in March 2015 and deliver the first buildings in September.
Ladd says the buyer is in active lease negotiations with two restaurants and has letters of intent for another three. David Stevens of Investment Properties Corp. represented the seller. The purchase entity, Esprop LLC, mortgaged the 4.53-acre parcel to the seller, Beaumaris LLC, for $1.95 million.