The Adler Group trounced half a dozen competitors to purchase a 252,422 sq. ft. industrial portfolio in Southwest Florida for $31 million. Cushman & Wakefield represented the seller, Lund Capital Group, a private investment group based in Naples, Fla.
The properties include Collier Park of Commerce, a seven-building, 189,523 sq. ft. complex; and Commerce Center, a four-building, 62,899 sq. ft. park. Both projects are by the Naples Municipal Airport, and the combined portfolio was 96% occupied at the time of the sale.
“Seven qualified full portfolio offers were evaluated before the selection of The Adler Group as the buyer,” says Mike Davis, executive director of the West Coast capital markets group at Cushman & Wakefield’s Tampa office. Davis says the number of qualified bidders “demonstrates continued investor confidence in the Southwest Florida market.”
In addition to Davis, the Cushman & Wakefield team representing the seller included Rick Brugge, an associate director; Gary Tasman, executive director; and Brandon Stoneburner, associate director.