The Shaw Aero design and manufacturing facility in Naples has been sold for $20.565 million.

The transaction, arranged by Randal L. Mercer of CB Richard Ellis Fort Myers – Naples and an investment team lead by Charles J. Foschini of the CB Richard Ellis -- Miami office, involved the sale of a 14.77-acre, single-tenant office, manufacturing, and testing facility from Shaw Realty Corporation to Fort XI LLC.

The property is at 3580 Shaw Blvd. in Naples, 1.5 miles from the I-75 interchange at CR 951.

In a separate transaction, Shaw Aero Devices was acquired by Parker Hannafin Corporation through its subsidiary, Parker Aerospace.

“The sale is strong testimony to the investment appeal of the Fort Myers-Naples area and the value of well-positioned commercial property within this market,” Mercer said. “The tenant has committed to a long-term lease of the entire facility, while the buyer is a major national investment group with a portfolio of blue chip real estate.”

Founded in 1953, Shaw Aero Devices employed 250 at the Naples facility at the time of the sale to Parker Hannafin Corporation. Shaw developed the Naples facility in 1999 after moving from Lee County to meet its long-term needs and expansion plans. The company designs, manufactures, tests and distributes components and systems for both military and commercial aviation.

Parker Aerospace will continue to occupy the lakefront property that consists of a 52,247 square-foot, three-story office building, a 65,000 square-foot manufacturing plant and a 12,750 square-foot testing facility.

There is paved parking for 305 vehicles. According to Mercer, the site includes enough undeveloped land, with zoning in place, to develop an additional 67,000 square feet of office or manufacturing space.

Mercer sourced the listing and served as primary contact to the sellers. Charles J. Foschini, Christian R. Lee and Christopher A. Apone of the CB Richard Ellis Miami office served as the primary contacts to the buyer.

CB Richard Ellis and Melody Capital Markets coordinated all marketing and due diligence activities related to the transaction. Shaw Aero