Updated Dec 4, 2024
EQT Exeter Acquires Industrial Property In Fort Myers For $92.5M
16770 Oriole Road
$92,500,000
$203/SF
Building Size
454,200 SF
Asset Type
Industrial
Closing
Mar 13, 2024
About this deal
AI
The industrial property located at 16770 Oriole Road in Fort Myers has been sold in a recent transaction. The asset spans 454,200 square feet and was acquired for $92,500,000, translating to a price per square foot of $204.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $92,500,000
- Address: 16770 Oriole Road
- Market: Fort Myers
- Buyer: EQT Exeter
- Seller: McGarvey Development
- Brokers: Adam Palmer, CCIM, SIOR & Mike Doyle, CCIM - LQ Commercial Real Estate Services
Adam Palmer, CCIM, SIOR, and Mike Doyle, CCIM from LQ Commercial Real Estate Services facilitated the transaction as the brokers representing the buyer and seller in the industrial property deal at Oriole Road. The involvement of these experienced brokers ensured a successful conclusion to the real estate transaction.
On the Map
$92,500,000
$203/SF
Industrial
View full map
Players
Fort Myers Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Deal FAQ
Visit Adam Palmer to view all their deals.
Browse Fort Myers industrial sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93