Knott Realty Acquires 27-Acre Site for FL Industrial Development
- Aug 29, 2017
Knott Realty Group acquired 27 acres of land adjacent to Southwest Florida International Airport in Fort Myers, Fla., from Meridian Airport Park, to develop a new industrial project on the site.
The 350,000-square-foot property, dubbed Meridian Center, will comprise two speculative buildings available for distribution, manufacturing or warehouse use. Construction on the first building is set to begin immediately.
Located at 10400 Meridian Center Parkway, Knott will begin with a 200,000-square-foot Class A asset that will include 32-foot ceiling heights, 350 parking spaces and several drive-in and loading dock doors, with a truck court depth of 130 feet. The first building will be constructed with reinforced concrete and is set for completion by the summer of 2018. Within a year of completion of the first property, the company will begin constructing the 150,000-square-foot second building.
The site features easy access to Ben Hill Griffin Parkway, Interstate 75 and Southwest Florida International Airport, while also servicing the areas of Fort Myers, Cape Coral, Sanibel, Greater Naples, Marco Island, Charlotte Harbor and the Gulf Islands.
“This site satisfies every important criteria in our acquisition profile, led by our evaluation that the land represents an attractive opportunity to build value and satisfy the real estate needs of local end-users,” Taylor Fields, vice president of leasing for Knott Realty Group, told Commercial Property Executive. “With its prime location adjacent to an international airport, it is uniquely situated to support two large-scale industrial buildings, which we plan to start developing immediately. This section of southwest Florida is experiencing impressive economic growth, driven by healthy residential and retail sectors, combined with low vacancy levels. Our research depicts numerous industries in need of immediate blocks of industrial space, including companies involved with e-commerce and manufacturing.”
Image courtesy of Knott Realty Group