Geis Sells 208 KSF Fort Myers Industrial Campus
The four buildings are nearly 97 percent leased.
Capital Partners has received $30.5 million in acquisition financing for the purchase of Meridian Business Campus in Fort Myers, Fla. Geis Cos. sold the four-building, 208,456-square-foot Class A campus, according to Yardi Matrix. CBRE arranged the financing on behalf of the buyer with funding from a life insurance company.
The financing consists of a 10-year fixed-rate loan at 5.5 percent, with a partial interest-only period and a 30-year amortization schedule. At the end of 2025, WesBanco provided the campus with approximately $25 million in permanent financing, according to Yardi Matrix.
READ ALSO: Industrial Demand Turns the Corner in Q1
Geis developed the property in a joint venture with Westminster Capital which broke ground in 2022. The property came online in 2024. When the development first came online, it was 70 percent leased.
Meridian Business Campus includes four buildings ranging from 35,271 square feet to 74,893 square feet, according to Yardi Matrix. The facilities feature 21-foot clear heights and a mix of dock-high and grade-level loading.
At the time of sale, the campus was 96.6 percent leased. Tenants include Frigid Rigid, Countertops and More, AXI International, American Products Distributors, and Lehman Pipe and Supply, Yardi Matrix shows. There is an average lease term of nearly six years.
Meridian Business Campus is located at 16091-16251 Parallel Drive in Fort Myers, adjacent to Interstate 75. The Southwest Florida International Airport is approximately 4 miles away.
Billy Mork, first vice president of CBRE Capital Markets’ Debt and Structured Finance team arranged the loan for Capital Partners.
Investors look to Fort Myers
Industrial development activity remains concentrated along the Interstate 75 corridor in Fort Myers. According to a Cushman & Wakefield MarketBeat report, more than 2.5 million square feet was under construction across Southwest Florida at the end of the first quarter, with projects clustered along the corridor. Market fundamentals have remained relatively healthy, with vacancy declining 10 basis points quarter-over-quarter to 7.3 percent and net absorption reaching 45,332 square feet.
This is not the first time Geis has sold an asset in the area. In May 2025, EQT Exeter purchased a 500,000-square-foot campus from the company for $87 million. Geis developed the project in partnership with Stonemont Financial Group. The project features two buildings and opened in 2023.
You must be logged in to post a comment.