Speculative distribution/manufacturing building, expected to deliver in fall 2018, represents Phase I of new development that will support 350,000 square feet of space
Knott Realty Group has initiated construction on Meridian Center North, a 200,961-square foot distribution/manufacturing building representing Phase I of the 350,000 square foot Meridian Center located in Fort Myers, Florida. 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. The initial building, Meridian Center North, is scheduled for delivery this fall, with construction of the second project, Meridian Center South, planned to begin 4th quarter 2018.
Meridian Center is positioned at 10400 Meridian Center Parkway off Ben Hill Griffin Parkway in Lee County. “The site location alone could be incredibly advantageous for a distribution/manufacturing user with trucking logistics in mind.
Not only does it offer direct access to Interstate 75, it is also directly accessible to the Airport’s distribution hub, with just three truck ‘turns per route’ to and from,” explained Kate Sanft, Development Manager for Knott Realty Group. “Additionally, the Center is within close proximity to Gulf Coast Town Center, Florida Gulf Coast University, and a number of other amenity-rich attractions.”
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.
“Our research shows a pent-up demand for large and flexible blocks of space in this submarket and Meridian Center North has been engineered to satisfy the real estate requirements for businesses involved in manufacturing, distribution, and e-commerce,” explained Taylor Fields, Vice President of Leasing for Knott Realty Group. “The prime location adjacent to an international airport provides the development with a significant advantage over the competition. Now is the perfect time to lease space within the building to achieve cost efficiencies when integrating the tenant build-out with the actual construction of the project.”
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.
Lee & Associates Naples-Ft. Myers has been selected as the exclusive brokerage firm for this requirement and leasing and marketing activities will be overseen by Jerry Messonnier, Bob Johnston and Derek Bornhorst.
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.
“We are fully-committed to the southwest Florida region and intend to seek additional parcels to continue our development program well into the foreseeable future,” Fields added. “This section of the country is the beneficiary of on-going population growth, which fuels the economy and leads to diverse opportunities in the commercial, industrial, and multi-family real estate sectors. We are optimistic about this market due to attractive fundamentals including low vacancy levels, job growth and weather conditions that appeal to many outside this 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
