Baltimore Company Acquires Acreage for Major Industrial Development Near Airport

Commercial developer Knott Realty Group, based in Baltimore, Maryland, has announced plans for a major speculative development on approximately 27 acres adjacent to the Southwest Florida International Airport in Fort Myers.

Named Meridian Center, the development is situated at 10400 Meridian Center Parkway, off of Ben Hill Griffin Parkway in south Lee County.

Recently, Knott Realty Group paid Meridian Airport Park, LLC, just over $2.38 million for the site, where it plans to construct two industrial buildings in two phases. When completed, they will provide nearly 350,000sf of space suitable for distribution, manufacturing and warehousing uses.

Site work is expected to begin immediately on the first of these two projects, a single-story, 200,000sf Class- A distribution/manufacturing building. Constructed with reinforced concrete, it will be equipped with 32-foot ceiling heights, multiple drive-in and loading dock doors with a truck court depth of approximately 130 feet, and parking accommodations for more than 350 vehicles. Delivery is expected next summer.

Following completion of the first building, Knott Realty Group expects to start construction of a second building, which will total 150,000sf.

Company officials say they were first attracted to the site’s strategic location, which offers direct access to I-75 and is just a mile from the international airport. The developer was also encouraged by the market’s residential growth and increasing demand for large blocks of industrial space for end users such as manufacturers and e-commerce companies.

Knott Realty is well acquainted with greater Fort Myers. In 2006, it delivered four flex/office and distribution buildings at 7916 Drew Circle, totaling approximately 216,000sf. They are now around 88% occupied. The company is also developing a multi-family residential community in the area.

As a full-service commercial real estate development, management and investment company, Knott Realty Group has a portfolio of more than 4.2 million square feet of commercial office, warehouse and industrial space in Maryland, Florida and South Carolina. The company has also developed and currently manages residential communities throughout the Mid-Atlantic region, and maintains in-house development, property management, construction and leasing services. For more information, please visit www.KnottRealty.com.