World Plaza 7 Buildings 7 biens | Bureau | À vendre | 7 276 530 € | Fort Myers, FL

Offered as a package, this portfolio of 7 office buildings, comprising 29,134 SF, is located in the prestigious professional condominium office park “WORLD PLAZA”, near the signalized intersection of College Parkway and New Brittany Boulevard, Fort Myers, Florida.

The CT zoned, low-density office park, with a total of 25 buildings, aggregating 80,710 SF, is situated on approximately 9.5 acres. The condominium buildings have brand new roofs, soffits and gutters; and have been painted recently. During the last year, the mature landscaping has been renovated with many replacements, and is attentively maintained.

The asphalt parking lots, which were newly paved in the last year, provide a generous aggregate parking ratio of 1:245 sf (approximately 4/1,000 sf) including an Employee Parking Lot. The on-site professional management team diligently keeps maintenance fees below market.

Southwest Florida maintains the lowest office vacancy rate of all U.S. markets, with overall vacancy which has held steady at 4.1%. Currently, World Plaza, the office park, has no vacancies. Roughly 50% (15,015 SF) of the portfolio is 100% leased as conventional 3-year gross leases (“Conventional Leases”). There are 10 conventional offices, ranging in size from approximately 675 SF to 2,121 SF. Approximately 34% of these are medical offices, and about 27% have been tenants for 12 years or more. With two exceptions, annual escalations are 5%. Future renewals and new leases will add value as current market rents are higher, and NNN leases are becoming more accepted.

For more than 10 years, 14,119 gross SF / 7,759 net leasable SF of the portfolio has successfully operated as full-service “Executive Suites”. The Executive Suites management team will enter a 5-year gross master lease, which minimizes risk and oversight for the buyer.