{"id":1004757601,"date":"2025-05-13T02:25:00","date_gmt":"2025-05-13T10:25:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004757601"},"modified":"2025-05-13T02:25:02","modified_gmt":"2025-05-13T10:25:02","slug":"eqt-exeter-pays-87m-for-fort-myers-industrial-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-87m-for-fort-myers-industrial-campus\/","title":{"rendered":"EQT Exeter Pays $87M for Fort Myers Industrial Campus"},"content":{"rendered":"
\n
\"Exterior<\/a>
Legacy at Oriole Road is at full occupancy, with three tenants in total, according to CommericalEdge. Image courtesy of Stonemont Financial Group<\/em><\/figcaption><\/figure><\/div>\n\n\n

EQT Exeter has purchased a 500,000-square-foot industrial campus in Fort Myers, Fla., for $87 million, according to CommercialEdge. Stonemont Financial Group, in partnership with Geis Development, sold Legacy at Oriole Road.<\/p>\n\n\n\n

KBS Advisors Managing Partner Hassan Mahmood represented the seller during negotiations. This deal comes just two months after Stonemont sold another asset in Tampa<\/a>, Fla., for $50 million.<\/p>\n\n\n\n

The 34-acre Legacy at Oriole has two buildings, each measuring 250,000 square feet. Features include 32-foot clear heights, ESFR systems, LED lighting, 16 dock-high doors per building and 24 grade-level doors in total. Additionally, the property includes 170 trailer parking spots and ample vehicle parking spaces., <\/p>\n\n\n\n

Located at 16670 and 16680 Oriole Road, the campus is less than a mile from Interstate 75, allowing east access to the Tampa, Clearwater and St. Petersburg, Fla., metros. Southwest Florida International Airport is 6 miles away while Cape Coral and downtown Fort Myers are both within 14 miles of the property.<\/p>\n\n\n\n

Stonemont and Geis Development completed the Class A industrial campus in the second quarter of 2023, with aid from a $45.5 million construction loan provided by Fifth Third Bank, CommercialEdge shows. Last year, the owners signed a full-building lease with an unnamed tenant. The other building is also fully occupied by two other tenants.<\/p>\n\n\n\n

Southwest Florida’s vacancy rate increases<\/h2>\n\n\n\n

Leasing activity in Southwest Florida’s industrial market dropped 51 percent on a quarter-over-quarter basis through March, according to a recent Cushman & Wakefield report. On par with national industrial market trends<\/a>, vacancy continued to rise to 5.1 percent\u2014which was the highest point since 2015, the same report shows.<\/p>\n\n\n\n

In October last year, a joint venture between Glenstar Logistics and Columnar Investments sold an 818,000-square-foot industrial park<\/a> in Fort Myers. Dubbed Tri-County 75, the campus was 95 percent leased at the time of the transaction.<\/p>\n","protected":false},"excerpt":{"rendered":"

This 500,000-square-foot asset came online in 2023.<\/p>\n","protected":false},"author":2991,"featured_media":1004757604,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,21742,32781],"tags":[51502,43841,37349],"class_list":["post-1004757601","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","category-southeast","tag-eqt-exeter","tag-kbs","tag-stonemont-financial-group"],"acf":[],"yoast_head":"\nEQT Exeter Pays $87M for Fort Myers Industrial Campus<\/title>\n<meta name=\"description\" content=\"EQT Exeter has purchased a 500,000-square-foot industrial campus in Fort Myers, Fla., for $87 million, according to CommercialEdge.\" \/>\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\/eqt-exeter-pays-87m-for-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=\"EQT Exeter Pays $87M for Fort Myers Industrial Campus\" \/>\n<meta property=\"og:description\" content=\"EQT Exeter has purchased a 500,000-square-foot industrial campus in Fort Myers, Fla., for $87 million, according to CommercialEdge.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-87m-for-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=\"2025-05-13T10:25:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-13T10:25:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/AP1GCZ1-e1747057586417.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1503\" \/>\n\t<meta property=\"og:image:height\" content=\"1128\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\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\/eqt-exeter-pays-87m-for-fort-myers-industrial-campus\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-87m-for-fort-myers-industrial-campus\/\",\"name\":\"EQT Exeter Pays $87M for Fort Myers Industrial Campus\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-87m-for-fort-myers-industrial-campus\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-87m-for-fort-myers-industrial-campus\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/AP1GCZ1-e1747057586417.jpg\",\"datePublished\":\"2025-05-13T10:25:00+00:00\",\"dateModified\":\"2025-05-13T10:25:02+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4\"},\"description\":\"EQT Exeter has purchased a 500,000-square-foot industrial campus in Fort Myers, Fla., for $87 million, according to CommercialEdge.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-87m-for-fort-myers-industrial-campus\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-87m-for-fort-myers-industrial-campus\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-87m-for-fort-myers-industrial-campus\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/AP1GCZ1-e1747057586417.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/AP1GCZ1-e1747057586417.jpg\",\"width\":1503,\"height\":1128,\"caption\":\"Legacy at Oriole Road includes two 250,000-square-foot warehouses across 34 acres. 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