Minnesota buyer borrows $30.5M for Fort Myers industrial property

Capital Partners, a Minnesota-based commercial real estate firm, has bought a Fort Myers industrial park using $30.5 million in acquisition financing for the deal.

The park is the Meridian Business Center on Parallel Drive, just off on Interstate Commerce Drive and near Interstate 75.

CBRE Capital Markets, which structured the financing package and announced the deal, says it is a 10-year fixed-rate loan at 5.5% with a partial interest-only period and 30-year amortization.

The sale price was $48.35 million.

The previous owner, Ohio-based Geis Development, bought the property for $6.6 million in 2021, according to county property records. It built Meridian, which opened in 2024.

The center is a 208,456-square- foot, four building complex. It is currently 96.6% leased with an eight-tenant mix in the healthcare, distribution and supply industries. The average lease term of the tenants is nearly six years says CBRE.

Capital Partners, according to its website, has $1.8 billion in industrial real estate under ownership and management across the Minneapolis and St. Paul in Minnesota, as well as Milwaukee, Wisconsin, Indianapolis, Indiana and Southwest Florida.

Its local portfolio includes the Bernwood Trade Center in Bonita Springs.

Billy Mork of the firm’s Minneapolis finance team secured the financing for Capital Partners.