A retail plaza in Naples has changed ownership. Berkshire Commons at 7335 Radio Road recently sold to Regency Centers for $9 million.
The 17,180-square-foot property is fully leased to tenants including Five Guys, Moe’s Southwest Grill, Starbucks, Tony’s NY Pizza and Verizon.
“This was a highly sought-after retail asset, given its strong tenancy and location within a growing Naples submarket,” LQ Commercial Principal Mike Concilla says in a statement.
Concilla represented the seller — Bahar Berkshire Commons LLC of Manhasset, New York — in the transaction. The LLC bought the plaza in 2018 for $7.1 million, according to Collier County property records.
“Demand remains strong for stabilized retail centers that provide daily-needs services and consistent consumer traffic,” Concilla says.
Regency Centers is a Jacksonville-headquartered owner, operator and developer of shopping centers in suburban areas. It has 485 centers in its portfolio totaling more than 59 million square feet nationwide. It also owns Berkshire Commons, the shopping complex where Berkshire Place is located, which is anchored by Publix and also contains Walgreens.
