Hersh Equity Group Acquires Industrial Property At 1202 Northeast Pine Island Road For $5.3M

The industrial property located at 1202 Northeast Pine Island Road in Cape Coral has been acquired for $5.3 million. This asset consists of 36,000 square feet of space and is fully occupied with 21 units across two buildings, situated on a 2.51-acre lot. The property recently underwent improvements, including the replacement of the roof and roll-up doors in 2024, and it benefits from its location on Pine Island Road, which serves as Cape Coral’s main east-west corridor.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $5,300,000
• Buyer: Juda Hersh, Corey Schwartz, Jake Stauber, Steven Ginsberg & Bailey the Dog - Hersh Equity Group
• Seller: Terris LeVan
• Square Feet: 36,000
• Price Per Square Foot: $147
• Occupancy: 100%
• Acreage: 2.51

The acquisition by Hersh Equity Group reflects their strategy of investing in high-quality small-bay assets in Florida's industrial market. HEG sourced the off-market deal directly from Terris LeVan, indicating a direct negotiation without broker involvement. The firm plans to implement a value-add strategy through several capital improvements that are already in progress.