Spec Down South

The vacancy rate for bulk distribution industrial space in Lee County has been whittled down to such a degree that for the first time in a decade, developers are planning projects without substantial pre-leasing commitments in place.

Spearheading the speculative effort is the Knott Realty Group, a suburban Baltimore-based company with a long history in Southwest Florida.

Knott has acquired 27 acres near the Southwest Florida International Airport, where it plans as much as 350,000 square feet of bulk distribution space at 10400 Meridian Center Parkway, off Ben Hill Griffin Parkway, in two buildings.