Sarasota office building sells for $5.5 million

Naples/Fort Myers/Charlotte

Vroom, vroom: A 0.98-acre parcel in Naples where an AutoZone auto parts store is being developed has sold. The property, which is an outparcel at The Randall at Orangetree development, was sold for $2.19 million. Marcus & Millichap brokered the deal but declined to name the buyer. A spokesperson for the firm says in an email that “The agents would like to keep the buyer's name confidential in this case.” County property records have not yet been updated. The 7,254-square-foot store is being built near the northeast corner of Immokalee Road and Randall Boulevard, across the street from the just-finished Publix-anchored Neighborhood Shoppes at Orangetree. The Randall at Orangetree is a 50-acre mixed-use development that includes a 400-unit multi-family development.

Building up: Geis Development, a Cleveland real estate firm, has just completed work on a 208,000-square-foot office park in Fort Myers. The Meridian Business Park is off Interstate 75 and Alico Road in Lee County and is made up of four buildings. The largest, Geis says, is 75,000 square feet. A second building is 60,000 square feet and the remaining two are 35,000 square feet. Each building is equipped with 21-foot clear-height ceilings and is equipped to handle hazard storage with fully operational safety sprinkler systems, Geis says. The center is currently 70% leased with three of the four building fully occupied. While based in Ohio, family owned Geis Cos. has ties in the area with an office in Bonita Springs and a 264-unit apartment community named The Centro just off Alico Road in Fort Myers.