Distribution/manufacturing building, expected to deliver in fall 2018, represents Phase I of new development that will support 360,000 square feet of space near RSW Airport
Knott Realty Group has erected the exterior walls for Meridian Center North, a 200,961 square foot distribution/manufacturing building and is on pace to deliver the project representing Phase I of the 360,000 square foot Meridian Center located in Fort Myers, Florida this fall. Construction of the second phase of the project, Meridian Center South, is expected to commence before the end of 2018. Last fall, the full-service commercial real estate development company headquartered in Baltimore, Maryland acquired approximately 27 acres of land just two miles from Southwest Florida International Airport (RSW) and revealed plans to build two speculative buildings suitable for distribution, manufacturing and/or warehousing applications.
Lee & Associates Naples-Ft. Myers is the exclusive brokerage firm for this requirement with leasing and marketing activities being overseen by Jerry Messonnier, Bob Johnston and Derek Bornhorst.
“End-user response to our first building has exceeded expectations, with our team now sorting out the many requests for space that validates the pent-up demand environment that prompted our decision to construct speculatively,” explained Taylor Fields, Vice President of Leasing for Knott Realty Group. “Interest is emanating from manufacturing, distribution and e-commerce requirements, including last-mile operations interested in servicing a growing southwest Florida population. The local building trades that service the residential sector have also been active including product suppliers, as well as companies involved in the food industry.”
Meridian Center is positioned at 10400 Meridian Center Parkway off Ben Hill Griffin Parkway in Lee County. Marketing is focusing on the strategic location of the business community which is ideal for a trucking and logistics company interested in direct access to Interstate 75 and the Airport’s distribution hub which features a route with three truck turns. Meridian Center is also within close proximity to Gulf Coast Town Center and Florida Gulf Coast University.
“Over the past six months, we have experienced a substantial increase in the size of the average space requirement throughout the marketplace, rising from 15-20,000 square feet of space to approximately 30-40,000 square feet of space currently,” explained Derek Bornhorst, Principal with Lee & Associates Naples-Ft. Myers. “Factors led by a 2% vacancy rate in the warehouse/industrial sector, the continuation of new residential construction that is adding more rooftops and the delivery expectations of the American consumer are prime reasons for this escalation. Meridian Center is arriving at the perfect time to address the growing real estate interest in the southern end of Ft. Myers.”
The Class “A” distribution/manufacturing building will be equipped with reinforced concrete floors to handle heavy loads; 32’ ceiling heights; 58 dock doors and two 12 x 14 drive-in doors; a 130’ heavy-duty truck court; LED warehouse lights with motion sensors; and parking accommodations for more than 350 vehicles including approximately 18 trailers. Bays are divisible to approximately 35,000 square feet of space and office space can be built-to-suit.
Southwest Florida International Airport is a major transportation hub servicing Fort Myers, Cape Coral, Sanibel, Estero, Greater Naples, and Charlotte Harbor. Nearly nine million passengers utilize the airport on an annual basis for both domestic and international flights.
In 2006, Knott Realty Group delivered two flex and two bulk distribution buildings at 7916 Drew Circle in the Fort Myers area totaling approximately 216,000 square feet of space, with occupancy currently standing at approximately 100%. The company is also developing a luxury multi-family community in the area.
Knott Realty Group is a full-service commercial real estate development, management and investment company with more than 4.2 million square feet of commercial office, warehouse and industrial space throughout the Maryland, Florida and South Carolina markets. The company, which has also developed and currently manages residential communities throughout the Mid-Atlantic region, maintains in-house development, property management, construction and leasing services. For additional information, visit www.KnottRealty.com
