Riverside Investors, LLC recently purchased two parcels of adjoining land containing 11.25+ acres on US 41, Fort Myers, at the south side of Harborage Drive, across from Babcock Road, from Park Royal Properties, LLC for $1,960,200. Jim Garinger, CCIM, and Andrew Falde, CCIM, Colliers International, represented the Buyer.
The space will be used as a worship center for the Living Word Church. Jim Garinger, CCIM, SIOR and Andrew Falde, CCIM of Colliers Arnold represented the landlord.
The Jim Garinger team recently negotiated the lease of 25,000 sq ft of warehouse space. LeeSar will occupy the space that is located in the Metro Corridor at 11600 Adelmo Lane.
The industrial real estate market in Southwest Florida started off the year experiencing large amounts of negative absorption, rising vacancy and falling lease rates.
However, as the year progressed capable tenants began to take advantage of the market opportunities, primarily during the second half of the year. Generous concessions and attractive rental rates were offered by landlords to attract new tenants and retain existing ones.
Landlords in today’s market are beginning to understand what it takes to maintain occupancy; the recent stabilization in the overall vacancy rate is the result of many landlords doing just that.
The leasing market generated the majority of the activity in the Southwest Florida industrial market. Many tenants continued to downsize for cost efficiency reasons which spurred a slight increase in leasing activity and transactions; unfortunately in most cases these relocations also added further vacant space to the current surplus… read more here: http://jimgaringer.com/sw-fl-market-reports/
The Southwest Florida Office Market Report video from the Jim Garinger team at Colliers International in Fort Myers.
Tucker Holdings of SWFL LLC purchased 1.48 acres of land at Ben C. Pratt/Six Mile Cypress Parkway and International Center Boulevard in Fort Myers from Lee Cirque LLC for $900,000. Jim Garinger, CCIM, SIOR; Andrew Falde, CCIM; and Karen Johnson-Crowther of Colliers Arnold brokered the transaction.
Get the insight and knowledge you need to accelerate success in 2010. Visit http://www.SWFLCCIM.com to register and learn about sponsorship opportunities.
This video covers the medical office hot spots in Lee County Florida. We are tracking the most active, most expensive, and healthiest areas for medical growth.
In the second quarter of 2009, 155,000 square feet of new shopping center space was delivered in Lee County. In addition, 101,000 square feet of space was vacated in the second quarter for a total of 256,000 square feet of vacant shopping center space in the county.
There is currently an additional 182,000 square feet of shopping center space under construction, some of which includes failed projects that will not make it to the market this year.
Lee County shopping center total vacancy reached 10% in the second quarter, up from 9% in the fi rst quarter and 7.1% one year ago. We expect vacancy to increase in the next quarter and absorption to reverse some as tenants prepare for season.
Retail lease signings that occurred in the second quarter include:
The Furniture Solutions leased 11,715 square feet in Jamaica Bay Plaza on US 41 in Fort Myers
BC’s Furniture Exchange leased 4,008 square feet on Trails Edge Boulevard in Bonita Springs
Dollar & Beyond leased 2,600 square feet on SW Pine Island Road in Cape Coral
Read more at: www.JimGaringer.com (click on market reports)
Cast-Crete leases over 7,000 sq ft of warehouse space located at 3276 Commerce Parkway, North Port, FL. Jim Garinger, CCIM, SIOR and Andrew Falde, CCIM of Colliers Arnold negotiated the transaction.
At present we are seeing several upticks in the market, particularly in leasing as landlord and tenant expectations are beginning to reach equilibrium. Some bright spots in the market are medical, education, and discount retailers as they continue to expand and take advantage of market conditions. View our complete market report at www.JimGaringer.com (click on market reports).
Cyber-Rides Inc. leased 4,993 square feet of office space at Parkway Plaza located at 10231 Metro Parkway in Fort Myers from Kuehner Properties. Jim Garinger, CCIM, SIOR and Andrew Falde, CCIM of Colliers Arnold, negotiated the transaction.
In tough economic times things go down in value. Often times businesses are stuck in contracts at old values for old volume requirements which may cause their chances of success or even survival to weaken. It is important to identify all possible scenarios for reducing costs from renegotiations to sub-leasing.
Our team of real estate experts in Fort Myers is ready to help you find solutions to your inflated real estate costs to keep your business operating and make it through these difficult times. Fill in the form below then we will contact you personally to discuss further.
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Jim Garinger, CCIM, SIOR and Andrew Falde, CCIM of Colliers Arnold in Fort Myers have been awarded the exclusive listing to lease or sell the industrial property located at 5560-5566 6th Street West in Lehigh Acres, FL. The property consists of 14,160 sq ft with 1,467 sq ft of office on 2.05 acres (mol).
More information: http://listing.loopnet.com/16111376
Jim Garinger and Andrew Falde have been selected by SunTrust bank for the exclusive listing for the sale and leasing of The Professional Building.
Bank owned two-story, 22,662± sq ft multi-tenant medical and professional
office building constructed in 1969.
THE PROPERTY
22,662± sq ft building on 0.73± acres
The majority of the parcel is zoned C1 (Commercial Intensive) within the
City of Fort Myers; a minor portion of the east side of the parcel, containing
the rear of the parking lot, is zoned RM-12 (Medium Density Multifamily). Contains a mix of medical and professional tenants
LOCATION
Located on US 41 directly across from Lee Memorial Hospital and less than one
mile south of Downtown Fort Myers
TRAFFIC COUNTS
Average of 43,200 cars per day (US 41, north of Hanson Street)
More information here: http://listing.loopnet.com/16242152
Jim Garinger, Jim Tamblyn and Andrew Falde have been awarded the exclusive listing for the sales and leasing of the buildings within the Gulf Coast Medical Park.
Currently under construction, Gulf Coast Medical Park consists of two single-story and two two-story medical office buildings totaling 54,000± sq ft, with delivery scheduled for the fourth quarter of 2009. The project is located on 4.8± acres on Plantation Road, adjacent to the recently expanded, 349-bed Gulf Coast Medical Center.
Gulf Coast Medical Park serves as the Plantation Road entrance to Gulf Coast Medical Center by providing direct vehicle access to the hospital’ s southeast parking lot.
Gulf Coast Medical Park is located on the west side of Plantation Road, just south of Daniels Parkway in Fort Myers, Florida.
More information and flyer available here: http://listing.loopnet.com/16309837
Fort Myers, FL (May 18, 2009) - Grant Miller, a Business Management Major at Florida Gulf Coast University , recently sought out a summer internship with the Fort Myers office of Colliers Arnold Commercial Real Estate. When asked what his goals are for the internship, Miller said “I want to invest some of my summer time and learn from real experience with a successful team.” Miller will be working three days a week with Jim Garinger and Andrew Falde and taking summer classes at Florida Gulf Coast University the other two days. Miller will observe and participate in the day to day operations of researching and marketing commercial real estate.
By Tim Engstrom
tengstrom@news-press.com
Construction preparations are under way for the $12 million Gulf Coast Medical Park off Plantation Road south of Fort Myers.
The medical office park – 54,000 square feet divided among four buildings – is 93 percent pre-leased or pre-sold to a combination of users and investors, said Magnus Karlstedt, the project owner and general contractor with MK Construction of Punta Gorda.
Karlstedt said Gulf Coast Hospital will use one of the one-story buildings for its hyperbaric medicine office and physician Valerie Dyke is moving into the other from her office’s present location near the former campus of Southwest Florida Regional Medical Center.
“It took me a long time to get this all together, but the response has been good,” Karlstedt said.
Karlstedt said he spoke to about 30 banks before securing financing for the project from American Momentum Bank, which has an office in Naples.
He said he expects tenants to be open at the park in about a year.
The overall market for office space has been soft, but the $285 million expansion of Gulf Coast Hospital created a focused demand, said Jim Garinger, principal and managing director of Colliers Arnold Commercial Real Estate in Fort Myers.
“There has been a pent-up demand for doctors’ and other professional office space in that area,” Garinger said. “The growth along the Daniels corridor is creating a lot of opportunity.”
Garinger’s firm represented the landowner who sold the 4.8-acre site to Karlstedt for $2.7 million.
Michael Timmerman, a Naples-based senior associate with Fishkind & Associates, an Orlando-based economic consulting firm, said hospitals are strong draws for related offices.
“The hospital is really the catalyst,” Timmerman said. “Physicians typically are looking to be as close to the hospital as possible.”
