Three Class A Office Buildings Hit the Market in Southwest Florida
MIAMI, Nov. 30, 2020 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the exclusive listing for sale of the Renaissance Center and the Bonita Bay Executive Center, two Class A office properties with a total of three buildings located in Fort Myers and Bonita Springs, Florida, respectively. The assets may be purchased together or separately.
“Institutionally owned and operated in two of Florida’s most affluent areas, the properties have very strong in-place tenants with long-term leases, and the buildings have been exceptionally well maintained,” said Alex Zylberglait, senior managing director investments in Marcus & Millichap’s Miami office. Zylberglait and Michael Crocchiola, an office and industrial property investment specialist with Marcus & Millichap in Miami are representing the seller, a limited liability company controlled by an affiliate of Brookwood Financial Partners LLC. “This is a rare opportunity in today’s market to acquire assets with strong tenants and attractive lease terms while also securing historically low interest rate debt,” added Crocchiola.
The 63,359-square-foot Renaissance Center is located on a five-acre lot off Interstate 75, which sees an average of over 100,500 vehicles daily. The property is 81.3% occupied with a mix of media, consulting and banking tenants, including Comcast, AXA Network, Global HR Research and JPMorgan Chase.
Bonita Bay Executive Center is currently 100% occupied with a mix of professional tenants including Bank of America/Merrill Lynch, Discovery Senior Living Holdings, and Camuto Group. The center’s two buildings span 60,766 square feet of rentable area situated on over four acres, just outside of the exclusive Bonita Bay community. “Bonita Bay Executive Center has undergone extensive capital improvements, has an impeccable tenant roster and provides professional curb appeal and ample parking,” said Crocchiola. The building at 3451 Bonita Bay Boulevard has four tenants and 33,076 square feet of rentable area, and 3461 Bonita Bay Boulevard has one tenant and 27,690 square feet of rentable area.
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About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.