Breaking news from Fort Myers as Tri-County 75, a sprawling industrial park, has been acquired for a jaw-dropping $155 million. This significant transaction was led by Chicago’s Walton Capital, sealing the deal for the 818,000-square-foot property strategically located at Luckett Road and Interstate 75.
The industrial park, covering 72 acres, comprises four massive warehouse buildings with the smallest being over 76,000 square feet and the largest surpassing 400,000. Completed just a year ago by a venture between Glenstar Logistics and Columnar Investments, the park is already bustling with life boasting a 95% occupancy rate. Notable tenants include Ferguson Enterprises and NB Handy, ensuring a vibrant mix of industries.
Walton Capital, a powerhouse in real estate investment, has impressive credentials. With nearly $17 billion raised since 1994, they have managed real estate transactions exceeding $55 billion. Their latest acquisition aligns with their robust growth strategy as facilitated by CBRE.
This sale comes hot on the heels of another massive land deal in Lee County earlier this week. Martin Marietta, a North Carolina-based building supply company, purchased nearly 2,000 acres for $620 million, marking a period of dynamic growth and development in the area.
Additionally, the health sector is seeing its share of expansion. Skanska’s U.S. division has been tapped to construct a new $435 million medical facility for Lee Health at Challenger Blvd. Slated for completion in late 2027, this project will feature a 416,000-square-foot hospital, an ambulatory surgery center, and a series of specialty clinics.
Elsewhere, the manufacturing sector is growing in Pasco County. The Soule Co. is expanding into a 127,280-square-foot facility at North Tampa Bay 75 business center, aiming to meet rising demand. This expansion will also create new job opportunities, further stimulating the local economy.
Meanwhile, a slice of Tampa’s historic Ybor City is undergoing transformation with the opening of La Union Residence & Social Hall, the inaugural component of the expansive Gasworx development. This project is a key part of a broader plan to introduce 5,000 new residences and substantial office and retail space.
In Sarasota County, Echo Suites Hotel has secured land at Mirasol Town Center for $2.01 million, setting the stage for a new extended-stay hotel. With preliminary approvals nearly complete, construction is set to start next summer, adding to the region’s hospitality offerings.
On the real estate front, MLG Capital has expanded its Florida footprint by acquiring The Venetian at Capri Isles in Venice. Though the financials remain undisclosed, the acquisition will bring improvements and enhancements to the community, aiming to boost its appeal and value.
These transactions reflect a robust real estate and economic landscape in Florida, showcasing an influx of investments across various sectors. As Fort Myers and surrounding areas continue to attract substantial financial interest, the region stands poised for further growth and transformation.
Source: Businessobserverfl
