CR South buys Marquesa Plaza

NAPLES - CR South, a partnership between Continental Realty Corp. and Forman Capital LLC, has announced the acquisition of Marquesa Plaza, a 115,000sf retail center at the intersection of Livingston Road and Pine Ridge Road in Naples for $11 million. The previous owner was Marquesa Plaza LLC.

Constructed in 2007, the neighborhood shopping center is currently 50% leased and features 19 tenants including Starbucks Coffee, First American Bank, Anytime Fitness, First Watch Restaurant, Carvel Ice Cream, Sunshine Pharmacy and Five Guys Burgers and Fries.

The new ownership group has selected Investment Properties Corp. to oversee marketing and leasing activities aimed at targeting complementary retailers to add to the Marquesa Plaza tenant mix.

Continental Realty Corp. is a privately owned commercial real estate company headquartered in Baltimore, Md., that, together with Forman Capital, owns and manages a portfolio of shopping centers, mixed-use projects and residential land in Florida through CR South.