Recent Commercial Real Estate Developments in Southwest Florida
Overview of Opportunities in Fort Myers and Surrounding Areas
Recent movements in the commercial real estate market across Southwest Florida highlight rising opportunities and significant developments. This includes the sale and lease of various properties, showcasing a dynamic and evolving landscape in regions like Fort Myers, Ruskin, and Sarasota.
Fort Myers: Former Badcock & More Home Furniture Store Available
A 13,563-square-foot former Badcock & More Home Furniture store, located at 1750 N. Tamiami Trail near Pine Island Road in Fort Myers, is now on the market for sale or lease. Key details include:
- Size: 13,563 square feet
- Land Area: 2.23 acres
- Parking: 48 spaces
- Current Ownership: An Orlando area investor purchased the property for $1.72 million in 2022.
This listing from SRS Real Estate Partners does not disclose a sale or lease price, encouraging interested parties to contact brokers Chris Stewart and Jacob Rasnick. The store is a result of the turbulent acquisition by Conn Inc., which purchased the long-standing W.S. Badcock brand but declared Chapter 11 bankruptcy just months later.
Ruskin: Property Sales Reflect Growing Development Interest
In Ruskin, two significant property deals have recently taken place, totaling $3.54 million:
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6.2-Acre Parcel Sale:
[link-whisper-related-posts]- Buyer: Piedmont Companies, a North Carolina developer
- Price: $2.6 million
- Future Plans: Construction of a Goodwill retail store.
- 1.8-Acre Investment Parcel:
- Price: $954,000
- Buyer: Remains anonymous.
As noted by broker Jack Koehler of Eshenbaugh Land Co., these transactions underscore a positive trend in Ruskin, signaling robust demand for development and investment opportunities within the region.
Brandon: Industrial Building Acquisition
In Brandon, the Stro Cos. and Kushner Real Estate Group have successfully acquired a 43,000-square-foot portfolio, including a 20,380-square-foot industrial building at 425 Hobbs St. This acquisition was completed for $5.87 million, marking the second purchase of industrial properties in the area by these firms.
- Brandon Property Price: $3.26 million
- Jacksonville Property Price: $2.61 million
Both properties are currently leased to PVF Industrial, showcasing continued investment in industrial space to support operational needs.
Pasco County: Major Investment by Bauducco Foods
Bauducco Foods has officially commenced construction on a 72-acre, 403,000-square-foot production and distribution center in Zephyrhills, Pasco County.
- Investment Amount: Over $200 million.
- Job Creation: Approximately 600 jobs expected upon completion.
- Timeline: Facility will be developed in three phases, with the first phase projected to be operational by mid-2026.
This initiative has garnered economic incentives from both the county and the city, highlighting the growing significance of Pasco County in the food production sector.
Sarasota and Manatee: Notable Property Transactions
In Sarasota, a 21,524-square-foot property previously owned by a car dealership has sold for $5.24 million. The property includes vacant land and was bought by Bill Camp Consulting.
- Location: 6425 and 6315 15th St. E.
- Previous Ownership: Local LLC acquired it for $3.73 million in 2023.
Moreover, a 19,260-square-foot office building, known as the Finergy Building located at 2170 Main St., is currently listed for $4.75 million. This fully-leased, LEED-certified property is accompanied by recent upgrades and is seen as a strong investment opportunity in downtown Sarasota.
Conclusion
The commercial real estate landscape in Southwest Florida is rapidly changing, with significant acquisitions and developments in various sectors. Investors and developers are actively seeking opportunities in this growing region, which remains a focal point for commercial growth and investment.
For more insights into Florida’s commercial real estate market, visit Florida Commercial Real Estate.
For inquiries or to share updates related to the Florida real estate market, reach out to local brokers or industry contacts.