CHICAGO--(BUSINESS WIRE)--Nov 7, 2024--
An affiliate of Walton Street Capital, L.L.C. (“Walton Street”) has acquired Tri-County 75, a four-building multi-tenanted Class-A industrial park, totaling 816,866 square feet located in Fort Myers, FL (“Tri-County 75”, “Park”, or the “Portfolio”).
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Built in 2023, Tri-County 75 was 94% leased at acquisition to a diverse tenant roster representing various distribution and consumer industries. The Portfolio is one of the premier industrial parks in the Fort Myers market, featuring best-in-class specifications such as 32’-36’ clear heights, an abundance of loading options, excess trailer storage, 3,000 amps of power per building, ample car parking, secured truck courts, ESFR sprinklers and LED lighting. The Property’s functionality, transportation infrastructure and immediate proximity to the I-75 / Luckett Road interchange makes this an attractive location for E-commerce and distribution tenants. I-75 offers connectivity to the 4.4 million people living within a 120-minute drive-time. The interstate averages over 95,000 vehicles per day and travels North to Tampa (2 hours) and Orlando (3 hours) as well as South to Fort Lauderdale (2 hours) and Miami (2 hours). Tri-County 75 is also 2 miles from SR-82, 7 miles from Highway 41, and 14 miles from Southwest Florida International Airport.
“This acquisition of a newly built, high quality industrial park provides immediate scale and supports our growth efforts in markets that have seen robust leasing and population growth in recent years,” said Stephen Sotoloff, Head of Acquisitions at Walton Street.
“Tri-County 75 represents a unique opportunity to acquire a premier asset in a rapidly expanding Florida market. We are excited about the blue-chip tenancy and expansion of our industrial footprint across the region,” said Tom Jaeger, Senior Principal at Walton Street.
About Walton Street Capital, L.L.C.: Walton Street is a private real estate investment firm that manages a diversified equity and debt platform on behalf of its global institutional clients. Since its inception in 1994 through its affiliates, Walton Street has raised nearly $17 billion of capital commitments from global institutional investors and has acquired, financed, managed and sold more than $55 billion of real estate. Through the cross platform synergies of its investment groups, Walton Street seeks to make real estate equity and debt investments with attractive risk adjusted returns. For more information, visit waltonst.com.
Tri-County 75, a four-building multi-tenanted Class-A industrial park, totaling 816,866 square feet located in Fort Myers, FL (Photo: Business Wire)
