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Charlotte-Lee-Collier
Business Observer Friday, Dec. 15, 2017 9 months ago

Market Spotlight: Pelican Bay Financial Center

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Pelican Bay Financial Center
by: Kevin McQuaid Commercial Real Estate Editor

Completed in 1995, the five-story Pelican Bay Financial Center was built to house the headquarters of WCI Communities, the upscale real estate developer that merged earlier this year with Miami-based Lennar Corp.

Today, the 8889 Pelican Bay Blvd. building is among a select group of Class A offices in Collier County. Tenants include Morgan Stanley, Raymond James Financial, Huntington Bank and Henderson Franklin. The building is located at the entrance to Pelican Bay, one of the most affluent residential communities in all of Florida.

“We describe this building as the best of the best in every way,” says Dave Wallace, a senior vice president with commercial real estate brokerage firm CRE Associates, which leases the property.

61,145

Total square footage of Pelican Bay Financial Center

$10,000,000

Amount German-based Uccello Immobilien GMBH paid to acquire the building from WCI in December 1996, Collier County records show.

96

Percentage of Pelican Bay Financial Center leased as of December 2017. Law firm Henderson Franklin will move into the property in the first quarter of 2018.

360

Degree of views as a result of a design that accentuates perimeter windows and allows in a greater degree of ambient light.

2

Number of floors taken up by Pelican Bay Financial Center's lobby.

1

Amount of distance, in miles, the building is from both the upscale Mercato shops and offices, which sold in 2015 for $240 million, and the Ritz-Carlton Naples Hotel.
Sources: CRE Associates, Collier County Property Appraiser, CoStar Group.

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