- April 15, 2024
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ESTERO — Oakbrook Properties says it has sold 34 acres to Hertz in Estero where the rental-car giant plans to build its global headquarters. Terms of the land sale were not disclosed.
Hertz plans to spend $68 million to build the headquarters building near Coconut Point Mall in Estero where it will employ 700 people. The company has started moving senior executives from its current headquarters in New Jersey to temporary space in Naples. Recent public filings by the company indicate it plans to spend about $100 million on the move.
“The sale of land to Hertz is the fruition of nearly 30 years of work,” says Ned Dewhirst, senior vice president of Florida operations for Oakbrook Properties. The company acquired the land almost three decades ago when it was a 3,000-acre cattle ranch and has sold parcels for residential and commercial development, including Coconut Point Mall and communities such as The Brooks.
Read more about Oakbrook Properties and how the Hertz deal came to Lee County here.
