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 operations across the state, marking a substantial bet on the growth potential of the Tampa-Fort Myers corridor.
Key Takeaways
- NAI Burns Scalo acquired Fort Myers-based Commercial Property Southwest Florida.
- The acquisition strengthens NAI Burns Scalo’s presence on Florida’s Gulf Coast.
- The company aims to invest approximately $250 million annually in its operating markets.
- The expansion is driven by a strategic goal of diversification beyond office properties and Western Pennsylvania.
Strategic Expansion and Diversification
NAI Burns Scalo, a company with a 70-year history in Pittsburgh, is actively pursuing a diversification strategy that began several years ago. The firm aims to reduce its concentration in office properties and Western Pennsylvania, shifting its focus towards industrial, multifamily, mixed-use, and condominium projects. This strategic pivot is underscored by the company’s ambition to invest around $250 million annually in the markets where it operates.
Florida Focus and Local Integration
Florida has emerged as NAI Burns Scalo’s preferred market for expansion. The company established a Tampa office in 2025, led by Florida real estate executive Tim Rivers, and has since grown its team there. Recognizing the importance of local expertise, NAI Burns Scalo emphasized the need to operate as a local firm rather than a distant entity. The acquisition of Commercial Property Southwest Florida, founded by industry veteran Gary Tasman, provides a crucial second major office on Florida’s Gulf Coast and deepens the company’s local ties.
Investment and Development Vision
NAI Burns Scalo plans to leverage its extensive experience in real estate development, having overseen over $2 billion in projects. 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 ranking among top markets for job and population growth, emphasizing the region’s readiness for continued development.
Market Opportunities and Future Outlook
Tim Rivers views the I-75 corridor, stretching from Tampa Bay to Fort Myers, as a prime growth area, drawing parallels to the development seen along the I-4 corridor. Despite national hesitations in the office sector, Southwest Florida has shown remarkably low vacancy rates and significant rent growth, making it an attractive area for NAI Burns Scalo’s evaluation of office, industrial, multifamily, and mixed-use opportunities. The company plans to be disciplined in its investments, seeking strategic opportunities that align with community growth priorities.
Sources
- Pittsburgh developer makes big bet on Tampa-Fort Myers corridor, Tampa Bay Business & Wealth.