Pittsburgh-based NAI Burns Scalo has significantly expanded its presence in Florida by acquiring Commercial Property Southwest Florida, a Fort Myers-based commercial real estate firm. This strategic move bolsters NAI Burns Scalo’s brokerage, property management, construction, and investment services across the state, marking a substantial bet on the burgeoning Tampa-Fort Myers corridor.
Key Takeaways
- NAI Burns Scalo acquired Commercial Property Southwest Florida to enhance its statewide operations.
- The company aims to invest approximately $250 million annually in its operating markets.
- The acquisition diversifies NAI Burns Scalo’s portfolio beyond office properties and Western Pennsylvania.
- Florida, particularly the Tampa-Fort Myers corridor, is identified as a key growth market.
Strategic Diversification Drives Expansion
NAI Burns Scalo, a company with a 70-year history in Pittsburgh, has embarked on a strategic diversification initiative. Historically concentrated in office properties and Western Pennsylvania, the firm is actively shifting its focus. The goal is to reduce its reliance on office assets to about 40% of its portfolio while increasing investments in industrial, multifamily, mixed-use, and condominium projects.
Brian Walker, president of NAI Burns Scalo, stated that "diversification" was the driving force behind this strategic pivot. This decision followed an extensive evaluation of growth markets across North America, with Florida emerging as the preferred expansion market.
Building a Local Florida Platform
The company’s Florida expansion began in 2025 with the opening of a Tampa office and the hiring of Florida real estate executive Tim Rivers. NAI Burns Scalo secured NAI Global territory rights for a 13-county region stretching from Hernando County through Tampa Bay and south to Fort Myers. Recognizing the need for local expertise, the company sought a Fort Myers office and a team with deep regional ties.
The acquisition of Commercial Property Southwest Florida, founded by industry veteran Gary Tasman, provides NAI Burns Scalo with a second major office on Florida’s Gulf Coast. Tasman, who has over three decades of experience in Southwest Florida, will be instrumental in the company’s local operations. Walker emphasized the importance of being a "local real estate firm, not a Pittsburgh company that wanted to do business in Florida."
Investing in a Dynamic Market
NAI Burns Scalo plans to leverage its extensive experience, having developed over $2 billion in real estate, to fuel its expansion in Florida. The company intends to be a fully integrated platform, engaging in brokerage, property management, construction, and investment, deploying its own capital alongside clients.
Gary Tasman highlighted Southwest Florida’s consistent appeal to residents and employers, noting its high rankings in job creation and population growth. He also pointed to local governments’ efforts to concentrate development in employment centers, reducing commute times and supporting future growth.
Tim Rivers compared the I-75 corridor from Tampa Bay to Fort Myers to the I-4 corridor’s development potential two decades ago, calling the region "dynamic" with "incredible" opportunity and "tremendous amount of runway left."
Future Opportunities and Disciplined Approach
NAI Burns Scalo is actively evaluating opportunities across office, industrial, multifamily, and mixed-use sectors. Notably, the office sector in Southwest Florida has attracted attention due to low national vacancy rates and significant rent growth, despite broader market hesitancy. Walker and Tasman have been engaging with local officials and business leaders to understand community development priorities.
While the company is poised to invest significantly, Walker stressed a disciplined approach, stating, "We’re going to be very disciplined. We’re not just going to throw money around because we have it."
Sources
- Pittsburgh developer makes big bet on Tampa-Fort Myers corridor, Tampa Bay Business & Wealth.