{"id":1004720873,"date":"2024-07-12T06:51:38","date_gmt":"2024-07-12T14:51:38","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004720873"},"modified":"2024-07-12T06:51:40","modified_gmt":"2024-07-12T14:51:40","slug":"geis-jv-completes-fort-myers-industrial-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/geis-jv-completes-fort-myers-industrial-campus\/","title":{"rendered":"Geis JV Completes Fort Myers Industrial Campus"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Meridian-80-1.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"900\" data-attachment-id=\"1004720879\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/geis-jv-completes-fort-myers-industrial-campus\/meridian-80-1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Meridian-80-1.jpg\" data-orig-size=\"1200,900\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Meridian_Business_Park_Geis_Cos.\" data-image-description=\"&lt;p&gt;Properties at Parallel Drive, Fort Myers, Fla.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The four-building campus is 70 percent leased. Image courtesy of The Geis Development&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Meridian-80-1.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Meridian-80-1.jpg\" alt=\"Properties at Parallel Drive, Fort Myers, Fla.\" class=\"wp-image-1004720879\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Meridian-80-1.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Meridian-80-1.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Meridian-80-1.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Meridian-80-1.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/a><figcaption class=\"wp-element-caption\">The four-building campus is 70 already percent leased. <em>Image courtesy of The Geis Development<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>A joint venture between Geis Cos. subsidiary The Geis Development and Westminster Capital has delivered Meridian Business Park, a four-building, 208,000-square-foot distribution center in Fort Myers, Fla. The developers broke ground on the project in 2022. <\/p>\n\n\n\n<p>Built on a 5.4-acre site, Meridian Business Park comprises a 75,000-square-foot building and a 60,000-square-foot one, as well as two 35,000-square-foot facilities. Each building has a 21-foot clear height. The campus also features ESFR sprinklers, as well as a total of 19 drive-in doors and 544 parking spaces. <\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/why-2024-is-the-year-to-invest-in-industrial-real-estate\/\">Why 2024 Is the Year to Invest in Industrial Real Estate<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>The industrial complex is already 70 percent leased, with three of the four facilities being fully leased. Some of the tenants include Frigid Rigid, Lehman Pipe &amp; Plumbing, LiquiGlide and Concentra, as well as American Products Distributors, to name a few.<\/p>\n\n\n\n<p>Located at 16101, 16140, 16200 and 16251 Parallel Drive, Meridian Business Park is less than 3 miles from Interstate 75 and 4 miles from the Southwest Florida International Airport, while the Fort Myers Beach Port is roughly 17 miles southwest.<\/p>\n\n\n\n<p>The location is also 3 miles from <a href=\"https:\/\/www.commercialsearch.com\/news\/hsa-commercial-wraps-fort-myers-spec-industrial\/\">the 482,000-square-foot Highland Commerce Center of Fort Myers<\/a>, an industrial property that came online just last month. The speculative project faced a set of peculiar challenges, including Hurricane Ian and bald eagles nesting at the site. \u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-southwest-florida-coast-s-industrial-vacancy-on-the-rise\">Southwest Florida Coast&#8217;s industrial vacancy on the rise<\/h2>\n\n\n\n<p>The Southwest Florida Coast\u2019s industrial pipeline had some <a href=\"https:\/\/cw-gbl-gws-prod.azureedge.net\/-\/media\/cw\/marketbeat-pdfs\/2024\/q1\/us-reports\/industrial\/fortmyers_naples_americas_alliance_marketbeat_industrial_q12024.pdf?rev=6c9c742b1a4449a6b39bbd05c5807a2c\" target=\"_blank\" rel=\"noreferrer noopener\">400,000 square feet of under-construction space<\/a> in the first quarter of this year, as reported by Cushman &amp; Wakefield. Meanwhile, absorption dropped over the quarter from 1.8 million square feet at the end of 2023 to just 135,000 square feet.<\/p>\n\n\n\n<p>Following national trends, the region\u2019s vacancy rate grew by 220 basis points year-over-year in March, landing at 2.8 percent. However, the index remained way below the national average of 5.8 percent, according to the same report.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Three of the property&#8217;s four buildings are fully leased.<\/p>\n","protected":false},"author":3471,"featured_media":1004720879,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21748,21742,32781],"tags":[50551,37115],"class_list":["post-1004720873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-industrial","category-latest","category-southeast","tag-geis-companies","tag-westminster-capital"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Geis JV Completes Fort Myers Industrial Campus - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"The Geis Development and Westminster Capital have completed Meridian Business Park, a distribution center in Fort Myers, Fla.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/geis-jv-completes-fort-myers-industrial-campus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Geis JV Completes Fort Myers Industrial Campus\" \/>\n<meta property=\"og:description\" content=\"The Geis Development and Westminster Capital have completed Meridian Business Park, a distribution center in Fort Myers, Fla.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/geis-jv-completes-fort-myers-industrial-campus\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-12T14:51:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-12T14:51:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Meridian-80-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Claudiu Tiganescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/geis-jv-completes-fort-myers-industrial-campus\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/geis-jv-completes-fort-myers-industrial-campus\/\",\"name\":\"Geis JV Completes Fort Myers Industrial Campus - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/geis-jv-completes-fort-myers-industrial-campus\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/geis-jv-completes-fort-myers-industrial-campus\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Meridian-80-1.jpg\",\"datePublished\":\"2024-07-12T14:51:38+00:00\",\"dateModified\":\"2024-07-12T14:51:40+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/cbed638584257d6fb5a2a9c95c982b66\"},\"description\":\"The Geis Development and Westminster Capital have completed Meridian Business Park, a distribution center in Fort Myers, Fla.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/geis-jv-completes-fort-myers-industrial-campus\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/geis-jv-completes-fort-myers-industrial-campus\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/geis-jv-completes-fort-myers-industrial-campus\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Meridian-80-1.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Meridian-80-1.jpg\",\"width\":1200,\"height\":900,\"caption\":\"The four-building campus is 70 percent leased. 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