The Alico Business Center, located at 9961 Interstate Commerce Drive in Fort Myers, recently sold for $9 million.
PIP IV Alico, LLC sold the 48,000sf mixed-use office and retail space to Friendly Village, LLC.
Bryan Flores of SVN|KOVA Naples was the listing agent on the transaction, facilitating the sale in 45 days. Eric Edwards of LandQwest Commercial represented the buyer.
After SVN|KOVA and KOVA Property Management began managing and leasing the center in 2016, occupancy increased significantly. By the summer of 2018, it had climbed from 43% occupancy to 90% with the addition of new tenants including KB Hair Studio, Platinum Fitness, PeopleReady, Scotlynn and Spigot, Inc., and the retention of existing tenants such as AdKnowledge, Avis Car Rental and Sphinx Crossfit.
“This transaction exemplifies the value SVN|KOVA can bring to property owners through our leasing efforts, coupled with property management, accounting systems and insurance,” said Todd Sabin, managing director and partner for SVN|KOVA. “We are extremely proud of Bryan’s execution in the marketing and sale of this property as well as his collaborative efforts throughout all facets of this transaction.”
The Alico Business Center is located next to I-75 and across from Gulf Coast Town Center, making it convenient to restaurants, retail shops and hotels. It is also approximately two miles from Southwest Florida International Airport and Florida Gulf Coast University.
“It’s a prime location with a lot of potential, and we worked with ownership to develop a strategic plan for the center’s growth,” said Anthony Emma, CEO and managing partner of KOVA Companies. “The implementation of this plan utilizing all of KOVA Companies’ verticals demonstrates how KOVA’s effective growth and income strategy can be implemented to facilitate a successful sale.”