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Chicago investor buys complex for $5.2 million

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  • | 4:21 p.m. September 15, 2016
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A Chicago-based investor acquired Orion Center, a Fort Myers retail and office project, for $5.2 million.

Thomas J. Baryl, who founded People's Auto Parking in Chicago and managed and owned several downtown garages, bought the center at 6611-6631 Orion Drive last month, according to Lee County property records.

Baryl Orion Center LLP acquired the mixed-use center from OSC Partners, a group comprised of Kova Partners LLC and an affiliate of Naples-based Halstatt Real Estate Partners Fund II. Halstatt is, in turn, affiliated with the Barron Collier Cos., one of Collier County's largest property owners.

OSC Partners purchased Orion Center in early 2014 for $2.6 million, according to records.

“In collaboration with ownership we developed a strategic growth and income strategy for Orion Center,” says Anthony Emma Jr., Kova's CEO and managing partner.

Kova took over leasing and management of Orion Center in early 2015. At the time, the 30,021-square-foot project's retail portion was just 79% occupied, and its nearly 10,000-square-foot office component completely vacant.

At the time of the most recent sale, Orion Center was fully occupied, after Kova secured insurer Brown & Brown for the office space and attracted other tenants.

Eric Edwards and Bryan Flores of Kova's commercial real estate leasing division negotiated the sale on behalf of OSC Partners.

Orion Center is on Daniels Parkway in Fort Myers, roughly three miles from Interstate 75 and one mile from U.S. 41.

Kova, which provides development, financing, investment, leasing and insurances services for real estate clients from offices in Naples and Bonita Springs, will manage the property for Baryl Orion going forward.


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