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Mystery Buyer Checking Out $25-Mil Grand Central Station Site

NAPLES, FL-Naples Community Hospital Inc. has the 18-acre, 158,000-sf commercial property under contract but won't disclose the purchaser until his due diligence period is completed. The deal is projected to be the largest commercial transaction brokered locally.

By David R. Corder | Updated on January 12, 2001

NAPLES, FL-Grand Central Station, a 158,000-sf commercial site now leased to a physicians’ wellness clinic, held promise over the past several years as the possible linchpin in the city’s proposed 41/10 Redevelopment District.

Although local politics has altered the scope of the 625-acre community redevelopment district, the 18-acre site at the intersection of US 41 Highway and Tenth Street appears ripe for rehabilitation if a so-far unidentified buyer follows through on a contract to buy the property from Naples Community Hospital Inc. The nonprofit community group listed the property for sale last September for $25 million.

“We do have it under contract, and we’re about halfway through the due diligence,” R. Scott Cameron, principal of Naples-based Cameron Real Estate Services Inc., tells GlobeSt.com. If the acquisition proceeds on schedule, Cameron expects the buyer to complete the due-diligence report within the next 30 days. Closing is scheduled for 60 days afterward.

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