Market Comparison

Few submarkets have been as active over the past three years as the Lee County industrial market. In addition to a plethora of new product stemming from an associated residential development, general economic conditions, hikes in employment and changes in the way products are delivered, the county — comprised of Fort Myers, Bonita Springs, Cape Coral, Estero and Lehigh — has experienced a whittling of vacancy rates stemming from positive absorption.

Not surprisingly, rental rates for office/industrial projects known as “flex” buildings, warehouses, distribution and fulfillment centers as well as manufacturing sites also have risen considerably since the first quarter of 2016, according to data compiled by real estate research firm CoStar Group Inc.