CBRE Group, Inc., arranged the sale of two freestanding retail properties in the newly developed Restaurant Row retail project located at 6821 and 6833 Collier Boulevard in Naples, Florida. The sale included a 1-acre parcel ground leased to Pollo Tropical and a 5,378-square-foot dual tenant retail building leased to Chipotle Mexican Grill and Pei Wei Asian Diner. The seller of both properties was Esprop, LLC, a Coral Springs based affiliate of Amera Corporation and Barron Real Estate, the developers of Restaurant Row. Joken Naples I, LLC purchased the Pollo Tropical property for $2.45 million and Joken Naples II, LLC purchased the Chipotle/Pei Wei property for $4.2 million. CBRE’s David Donnellan, Mark Drazek and Raymond Romano represented the seller in the transaction. Trion Management Group, Inc., represented the buyer.

“The property is surrounded by an intense concentration of retail activity and is strategically located on the primary access artery into Marco Island, at the intersection of Collier Boulevard and Tamiami Trail,” said Mr. Donnellan, senior vice president, CBRE Capital Markets. “An impressive group of tenants, including Texas Roadhouse, Pollo Tropical, Chipotle, Pei Wei, and T-Mobile have secured leases at Restaurant Row.”

“We were able to source a highly qualified 1031 exchange buyer who appreciated both the strength of the retail location as well as the strong residential growth potential,” said Mr. Drazek, CBRE Capital Markets.

Based in Fort Lauderdale, Mr. Donnellan focuses on the disposition of multi-tenant shopping centers and single-tenant net leased investments in South Florida. Based in Orlando, Mr. Drazek and Mr. Romano focus on the disposition of single-tenant net leased investments throughout the state of Florida.