CRE Consultants Closes Sale of Wiggins Pass Crossing Shopping Center in Naples
Naples, FL – CRE Consultants negotiated the sale of Wiggins Pass Crossing at 13500 & 13510 Tamiami Trail N in Naples. This 48,819-square foot shopping center on 7.5 acres is located at the southeast corner of Tamami Trail N and Wiggins Pass Road, in the heart of one of the most affluent and prestigious destinations in the United States.
The shopping center is a fully-stabilized property with 100% occupancy. The CRE investment sales team representing the seller was led by Biagio Bernardo and Bill Young who also assisted the buyer, Coneco Realty, LLC, an individual investor. The investment traded for $10,425,000, which was 93% of the asking price and a 7.1 CAP Rate on in place income.