Dear Friends and Clients,
We are more than halfway through 2018 and thus far, it’s been a good year for commercial real estate. New developments are coming to fruition, investor outlook remains stable for the office sector and the Florida commercial real estate industry ranks third in the U.S., according to an annual economic impact study by NAIOP.
Cushman & Wakefield | Commercial Property Southwest Florida finished Q2 strong and to add to our excitement, we have been nominated for the Industry Appreciation Business Citizenship Award. Thank you to our friends and clients for your continued support. We look forward to serving you throughout the second half of 2018.
Sincerely,
Gary Tasman
CEO & Principal Broker
Q2 MARKETBEAT REPORTS
Navigating the Southwest Florida commercial real estate market and economic indicators affecting its performance can be a challenging task. Cushman & Wakefield | Commercial Property Southwest Florida offers quarterly MarketBeat reports to help you stay ahead of the real estate curve.
MarketBeat reports offer trends, insights and forecasts on all segments of the commercial real estate market in the region. They provide answers to questions such as the current state of the market, and where the real estate market is going. Q2 2018 reports are now available. Download a free copy today.
COWORKING TREND
Coworking spaces are becoming the norm in many metropolitan cities. According to the 2017 Global Coworking Survey, it is estimated that more than 1.1 million people went to work at 13,800 coworking spaces worldwide. See how the trend is affecting SWFL.
FINANCIAL SERVICES REPORT
Financial services companies are set to occupy more office space over the next two to three years. In the first four months of 2018, there were slightly more than 8.5 million people employed in the financial services sector representing about 27% of all office-using jobs in the country.
MULTITENANT WAREHOUSE OUTLOOK
Healthy demand and tight supply has made Multitenant Distribution(MTD) among the best performing commercial real estate segments. MTD comprises the largest share of U.S. industrial product and an even greater share of industrial properties with income-generating promise that attract the attention of institutional buyers.
SPOTLIGHT ON CYBERSECURITY
Each day the world creates 2.5 quintillion bytes of data, with 90% of all existing data created over the past two years alone. With more of our business and personal lives being stored and logged online, the need for cybersecurity has never been more urgent.
U.S. SHOPPING CENTER REPORT
Consumer confidence remains at a historically high level indicating future growth. These consumer metrics are all positive signs for a strong retail market.
Read More
2ND LONGEST ECONOMIC EXPANSION IN HISTORY
On May 1, the current economic expansion officially became the second longest in history at 107 months. Only the 1990s expansion of 120 months was longer. Will it end? Read more and the factors to watch for in Cycle Watch.
INDUSTRY APPRECIATION AWARDS NOMINATION– BUSINESS CITIZENSHIP
Cushman & Wakefield | Commercial Property Southwest Florida is proud to be a nominee for the Industry Appreciation Award for Business Citizenship. The award, is given to a company whose financial, volunteer and active involvement in community organizations and programs create a better quality of business and civic life in Lee County. Awards will be given in two categories: Large (51+ employees), Small (1-50 employees) – An awards luncheon will be held on Oct 4 to announce the winners.
JUNIOR ACHIEVEMENT BOWL-A-THON
Cushman & Wakefield | Commercial Property Southwest Florida will be a co-sponsor for the upcoming 2018 Junior Achievement Bowl-a-thon, being held on Wednesday, August 29 from 6:00 p.m. – 8:30 p.m. at HeadPinz Entertainment Center in Fort Myers. This will be our third year as a sponsor of the event. The event raises funds to support Junior Achievement of Southwest Florida programs throughout schools in SWFL. Come out and support our team, or form your own team of six players. Sponsorship opportunities are available. Go to JASWFL.org for more details.
CUSHMAN & WAKEFIELD EMPLOYEES CLEAN UP
Cushman & Wakefield | Commercial Property Southwest Florida volunteers recently showed their pride in the City of Fort Myers with clean-up efforts along the portion of the road we sponsor – Summerlin Road corridor from Brantley Road to College Parkway – through the Adopt A Road program. Volunteers braved the heat to reduce the amount of trash, while sharing stories of the best trash picked and developing a profound camaraderie. The Adopt A Road program is easy to join and a great way to show community support.
EMPLOYEE SPOTLIGHT
Coming soon, we will be introducing the Cushman & Wakefield | Commercial Property Southwest Florida ‘employee spotlight’ which will highlight our great employees and the wonderful work they do in and out of the office. We are excited to give our friends and clients a glimpse of the C&W team and all that we have to offer.
SALES
- Closed – 4/25/2018 – Gary Tasman and Shawn Stoneburner represented the buyer, Continental 422 Fund LLC to purchase a 34.19 acre parcel of vacant land located at 4467 Thomasson Drive, Naples for $12,990,000.
- Closed – 4/10/2018 – Gary Tasman & Shawn Stoneburner represented the seller in the sale of the News Press Campus located at 2404 Dr. Martin Luther King Jr., Blvd. The campus consisted of 4 buildings totaling over 180,000 SF, set on over 11 acres in a prime mid-town location. The property sold for $4,755,682 to an investment company from NY.
- Closed – 5/8/2018 – Gary Tasman & Shawn Stoneburner represented both the buyer and seller in negotiating the sale of a vacant parcel of land adjacent to I-75 at Colonial Blvd., the 20 acre parcel sold for $4,400,000 to LIV development.
- Closed – 6/18/2018 – Gary Tasman & John Albion represented the buyer Maugeri Investment Properties to purchase 3.10 acres of vacant land located at 14565/14575 Global Parkway for $875,000.00.
- Closed 6/15/2018 –Gary Tasman and Pamela Van Vleck represented the Seller, Petray Property Investments in selling a 11,340 SF mixed- use retail/office property located at 1469 Colonial Blvd., for $700,000.00.
PROPERTY MANAGEMENT ASSIGNMENTS
- Marlins Plaza – 5611 Six Mile Commercial Ct, Fort Myers, FL – 14,380 SF Brand new construction, single story retail strip center with a diverse tenant mix including 3 restaurant’s and salon services. Full Service Management
- Sunshine Plaza – 3400 Lee Blvd., Lehigh Acres, FL – 32,000 SF Upscale single story, professional/medical office. Full Service Management
- Kelly Crossing Center – 16120 San Carlos Blvd, Fort Myers, FL – 33,308 SF Single story, multi-tenant, retail neighborhood center. There is a mix of retail/office space and warehouse space in the rear. Full Service Management
- Colonial Center – 4383‐4387‐4391 Colonial Blvd, Fort Myers, FL – 29,963 SF single story, multi-tenant, neighborhood center consisting of three buildings with a mix of both office and retail space. Full Service Management
- Broadway Union Building –2231 Broadway/Union, Ft. Myers, FL – 4,396 sf single story, single tenant office. City of Ft Myers Police Dept will be using this space as a forensic lab and training center. Full Service Management
- Corporate Commerce Way – 16441 Corporate Commerce Way, Ft. Myers, FL 5,976 sf – Two retail buildings both occupied with drive-in restaurants. Facilities Management
- Cedar Ridge Commerce Center – 25270 Bernwood Drive, Bonita Springs, FL – 23,836 sf Single story, industrial warehouse distribution center. Full Service Management
- Inframark Building – 5911 Country Lakes Drive, Fort Myers, FL – 6,200 sf Single story warehouse distribution center. Full Service Management
SALES ASSIGNMENTS
- 21999 Carter Rd., Estero, FL 33928 – Land – 40 Acres –Zoned AG-2 – $348,000. Lane Boy
- 3660 Dr. Martin Luther King Jr Blvd., Ft. Myers, FL 33916 – Land – 1.96 Acres – Zoned C-1 – SALE -$427,000 – Lane Boy
- Residential Land Portfolio – 2,645 vacant residential lots in Cape Coral, Lehigh Acres and Bella Vista, AR – Sale – $14,000,000 – Gary Tasman & Shawn Stoneburner
- 15435 Tamiami Tr E., Naples, FL 34114 – Land 42.50 Acres – Zoned AG –$5,553,900 – Lane Boy
- 17901 Summerlin Rd, Ft. Myers, Fl 33907 – Pier One Plaza –18,000 SF building $3,950,000 – Gary Tasman & Shawn Stoneburner
- 4030 SR 31, Punta Gorda, FL 33982 – Land –717.87 Acres $27,000,000 – Lane Boy
- 12451 Gateway Blvd., Ft. Myers, FL 33913 –$12,500,000 – 68,960 SF – 2 Story office building. Gary Tasman & Shawn Stoneburner
- 2664 Crag St., Fort Myers, FL 33901 – Land – Zoning IL –Approx .51 Acre ‐ $100,000 – John Albion
- 8870/8891 De LaSalle Academy Way, Ft. Myers, FL 33912 –Land – Zoning CS‐1 – 5.26 Acres $1,450,000 – Gary Tasman & Shawn Stoneburner
- 8552 Collier Blvd., Naples, FL 34114 – Land – 3 Parcels totaling 18.48 Acres – Zoned C‐4 $11,450,000 – Gary Tasman & Shawn Stoneburner
- 4246 Evans Ave., Ft Myers, FL 33901 – Office Bldg – 6,167 SF – Zoned C1 – Office/Mixed use single story building. $499,000 – John Albion
- 10540 Greenway Rd., Naples, FL 34114 –132 +/- Acres – Zoned AG – $7,550,000 Gary Tasman & Shawn Stoneburner
LEASING ASSIGNMENTS
- 15611 New Hampshire Ct., Ft. Myers, FL 33908 – Office –1,852 SF @ $14.75 Gross – Gary Tasman & Gretchen Smith
- 8380 Riverwalk Park Blvd. Ft. Myers, FL 33919 – Medical Office/Surgery Ctr – 4,502 SF Medical Office & 3,544 SF Surgery Center – $18.50 PSF Surgery/$19.09 PSF – $6.80 CAM – Gary Tasman & Pamela Van Vleck
- 3400 Lee Blvd., Lehigh Acres, FL 33971 – Office/Medical/Retail – 3,391 SF available –$13.00 PSF $5.25 CAM –NNN – Gary Tasman & Gretchen Smith
- 6291 Thomas Rd., Fort Myers, FL 33912 – Flex Space –$7.00 Gross – 18,000 SF – John Albion
- 12451 Gateway Blvd., Ft. Myers, FL 33913 –$14 NNN – 68,960 SF – 2 Story office building – Gary Tasman & Shawn Stoneburner
- 4383‐91 Colonial Blvd., Fort Myers, FL 33966 – Retail Strip – 5 Vacant Units from 1405 SF – 2000 SF $8‐$15 PSF NNN $5.49 CAM ‐ Gary Tasman & Gretchen Smith
- 16120 San Carlos Blvd., Ft. Myers, FL 33908 – Mixed Use (Retail, Office & Warehouse) 2 Units available 1514‐3028 SF ‐$8.75‐$12 PSF NNN $4.52 CAM – Gary Tasman & Gretchen Smith
- 1966 Custom Dr., Ft. Myers, FL 33907 – Land ½ Acre ‐ $1.10 SF $1,996.50 Per month ‐ John Albion
- 305 Fifth Ave S., Naples, FL 34102 – Office 4,200 SF ‐ $25.75 PSF $9.59 CAM – Gary Tasman & Shawn Stoneburner
- 1525 Hendry St., Fort Myers, FL 33916 -14,584 SF $14.00 $2.10 CAM PSF NNN – Gary Tasman & Shawn Stoneburner