
Dear Friends and Clients,
Attached please find our Q3 2019 newsletter. Third quarter market fundamentals remained strong as vacancy lowered in most sectors and rents increased. Most significantly, in the industrial sector, lack of inventory is driving new projects that will be available in the fourth quarter of 2019 and the first quarter of 2020. All indications point toward a strong end of 2019 and the beginning of 2020.
As always, thank you for your trust and confidence in our capabilities. Please feel free to call or email me any time with questions about commercial real estate in our region.
Sincerely,
Gary Tasman
CEO & Principal Broker
Q3 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. Q1 2019 reports are now available.
Local MarketBeats
Q3 2019 Office Market Beat
Economy
Market Overview
Q3 2019 Industrial Market Beat
Economy
Market Overview
3Q 2019 Medical Office Market Beat
Economy
Market Overview
WHAT'S HAPPENING IN COMMERCIAL REAL ESTATE

U.S. Economy Still Growing:
Consumers Confident and Spending
The U.S. economy continued to grow at a steady pace in the third quarter of 2019, adding approximately 470,000 new jobs, of which 140,000 were in the key office-using sectors. Consumer confidence…
Read More of Cushman & Wakefield U. S. Economy and MarketBeats…

Have you called your primary care doctor lately and been told to go to urgent care?
It is the trend in the medical Sector. It is also a great opportunity for medical office space investors.
Urgent care centers (UCC) will bridge the gap between planned primary care visits and jammed emergency room visits. Urgent care centers free up emergency services by treating immediate needed, but non-life threatening illness or injury. UCCs are characteristically free-standing. Another new trend is major retail pharmacy chains creating retail clinics inside the pharmacy that give vaccinations, treat minor illness without the need for a doctor.
Florida has the highest forecasted need for new urgent care centers by 2030 based on population growth, specifically those 65 years and older. In Charlotte, Lee and Collier County, six (6) new UCCs opened since 2016.

Charlotte, Collier, Lee, Hendry, and Glades Counties have designated Opportunity Zones. Opportunity Zones incentivize investment in low-income or economically challenged areas.
Program Benefits:
Opportunity Zone Programs are similar to 1031 exchange in that the property is identified within a designated time frame, 180 days. December 31, 2019 is the initial deadline. Capital gains can be deferred up to December 31, 2026.
Investors may defer taxes on long-term capital gains, effectively reducing tax liability to 15%, but must hold interest in the asset for at least five years.
Investors who hold the fund for at least ten years can sell their interest in the property, and there is no capital gains tax.
Some programs require job creation along with the capital investment in the Qualified Opportunity Zone. This map illustrates the Opportunity Zones in Southwest Florida.

If you are interested in investing in an opportunity zone or own property in an opportunity zone, we will help you through the process.
Click here to access Frequently Asked Questions by Cushman & Wakefield’s Opportunity Advisory Group
Click here to link to the IRS Frequently Asked Questions about Opportunity Zones.
RECENT MARKET MOVERS
SIGNIFICANT SALES
- 17280 Jean St., Fort Myers was sold to 17280 Jean St, LLC for $772,500 from Resun Modspace, LLC: Gary Tasman and Shawn Stoneburner
- 16281 & 16291 Domestic Ave., Fort Myers was sold to GH Domestic Ave, LLC for $2,895,000 from HMTW Land Fund I, LLC: Gary Tasman and Shawn Stoneburner.
- North Cape 68 / Multiple 10 Lots, Cape Coral was sold to D.R. Horton, Inc. for $110,000 from Landmark Assets Florida, LLC: Gary Tasman and Shawn Stoneburner.
- Keith Pickard dba: Marlin Plaza, Inc.: 5611 & 5631 Six Mile Commercial Ct., Fort Myers, FL for $6,500,000 from Marlins Property Holdings, LLC Gary Tasman and Shawn Stoneburner.
SIGNIFICANT LEASES
- Klocke of America, Inc. leased 18,419 square feet of industrial space for a lease term of 60 months at 16260 Airport Park Drive, Fort Myers from Premier/Sum Fort Myers, LLC: Lane Boy.
- Educational Pathways Academy leased 5,596 square feet of office space for a term of 65 months at 1351 Pine Street, Naples from Evenhuis Properties. Gary Tasman and John Albion.
- GHD Services, Inc. leased 3,340 square feet of office space for a team of 36 months at 2675 Winkler Ave., Unit 180, Fort Myers from KAS Winkler, LLC. Gary Tasman and Shawn Stoneburner of Cushman & Wakefield | Commercial Property of Southwest Florida represented the tenant in negotiating the transaction.
- Qualitas Global Development, Inc. leased 2,140 square feet of office space for a term of 13 months at 1091 NE Pine Island Rd., Cape Coral from Joel R. Shapiro Enterprises, Inc. Gary Tasman and Gretchen Smith.
- T-Mobile South, LLC leased 2,650 square feet of retail space for a term of 2 years at 4224 Cleveland Ave., Suite 6, Fort Myers from Miracle Plaza Fort Myers, LLC. Gary Tasman and Gretchen Smith.
- Diamond Tours, Inc. leased 2,250 square feet of office space for a term of 1 year at 12651 McGregor Blvd., Suite B-201, Fort Myers from Gulf Stream West, LLC. Gary Tasman and Gretchen Smith.
- Diamond Tours, Inc. leased 1,950 square feet of office space for a term of 1 year at 12651 McGregor Blvd., Suite B-202, Fort Myers from Gulf Stream West, LLC. Gary Tasman and Gretchen Smith.
- Porter Davis Real Estate leased 1,224 square feet of office space for a term of 12 months at 3507 Lee Blvd., Suite 210, Lehigh Acres from Lehigh Office, LLC. Gary Tasman and Gretchen Smith.
- A1 Plus Financial Services, Inc. leased 1,162 square feet of office space for a term of 5 years and 2 months at 3400 Lee Blvd, Suite 111, Lehigh Acres from Sunshine Professional Suites. Gary Tasman and Gretchen Smith.
- Extreme Quality Home Health Care leased 1,066 square feet of office space for a term of 12 months at 12995 S Cleveland Ave., Suite 232-233, Fort Myers from Pinebrook Pine, LLC. Gary Tasman and Gretchen Smith.
- Cell4Less leased 3,750 square feet of warehouse space for a lease term of 12 months at 4040 Warehouse Rd, Unit A, Fort Myers from Metro Center TWA, LLC.: Gretchen Smith.
- Industrial Maintenance Services, Inc. leased 6,000 square feet of warehouse space for a lease term of 37 months at 16131-1 Pine Ridge Rd. Fort Myers, FL from Boyce Holdings III, LLC. Gary Tasman and Gretchen Smith.
- Century San-Cap Landscape, LLC leased 6,000 square feet of warehouse space for a lease term of 3 years at 16131-2 Pine Ridge Rd. Fort Myers, FL from Boyce Holdings III, LLC. Gary Tasman and Gretchen Smith.
- 199 LLC dba: Liberty leased 1,674 square feet of restaurant space for a lease term of 10 years and 6 months at 129995 South Cleveland Ave., Suite 112 AB, Fort Myers from Pinebrook Pine, LLC.: Gary Tasman and Gretchen Smith.
- Kava Nirvana, LLC leased 1,595 square feet of retail space for a lease term of 3 years and 3 months at 129995 South Cleveland Ave., Suite 103 A, Fort Myers from Pinebrook Pine, LLC.: Gary Tasman and Gretchen Smith.
- Mane Street Hair of Ft Myers leased 1,540 square feet of retail space for a lease term of 32 months at 129995 South Cleveland Ave., Suite 240 & 241, Fort Myers from Pinebrook Pine, LLC. Gary Tasman and Gretchen Smith.
NEW MARKET ASSIGNMENTS
(Click on address to download flyer)
SALES
Office
12681 Creekside Lane, Fort Myers, FL 33919 – Sale – $5,750,000 – Class A Professional Office- Gary Tasman & Shawn Stoneburner
12501 World Plaza Lane, Fort Myers, FL 33907 – Sale – $923,000 – Fully Renovated Professional Office – Gary Tasman & Shawn Stoneburner
12565-12551 New Brittany Blvd., Fort Myers, FL 33907 – Sale – $395,000 – Medical or Professional Office – Gary Tasman & John Albion
Industrial
5650 Zip Dr., Fort Myers, FL 33905 – For Sale- $660,000 – Industrial Warehouse – Gary Tasman & Shawn Stoneburner
7995 Mercantile Street, Unit 5, North Fort Myers, FL 33917 – For Sale- $265,000 – Industrial with Fenced Yard – Gary Tasman & Shawn Stoneburner
Land
18265 Marshall Field Rd., LaBelle, FL33935 – Land for Sale – $15,000,000 -Gary Tasman & Lane Boy
2200 Carter Lane, Alva, FL 33920 – Land For Sale – $5,500,000 – Gary Tasman & Lane Boy
4570 Thomasson Lane, Naples, FL 34112 – Sale – $750,000 – Land for Sale – Gary Tasman & Lane Boy
Estero Land – Access Undetermined – Land For Sale – $340,000 – Gary Tasman & Lane Boy
1381 Betmar Blvd., North Fort Myers, FL 33903 – Land For Sale – $195,000 – Gary Tasman & Lane Boy
LEASES
447 Cape Coral Parkway E, Cape Coral, FL 33904 -Office For Lease- $14.50 per sq. ft. Ample Parking and easy access. – Gary Tasman & Gretchen Smith
2675 Del Prado Blvd., Cape Coral, FL 33904 – Land Lease- $2.50 Lease per sq. ft. – Will Consider Build to Suit- Gary Tasman & John Albion
7995 Mercantile St., Unit 5, North Fort Myers, FL 33917 – $7.50 per sq. ft. Industrial Condo For Lease- Gary Tasman & Shawn Stoneburner
2247-2287 First St., Fort Myers, FL 33901 – $23.00 – $25.00 per sq. ft.Office & Retail Space For Lease – Gary Tasman & Gretchen Smith