Pinebrook Park
Fort Myers, FL
Page Park
HIGHLIGHTS
- Value-Add Opportunity: In-place rents average just $14.96 PSF, well below market rates, offering significant mark-to-market upside.
- Short Lease Terms: 38% of GLA has no renewal options and WALT is just 2.4 years, enabling rapid rental growth and repositioning.
- Strategic Vacancy: 88.5% occupancy with select office suites held vacant to support a comprehensive renovation strategy.
- Renovation Upside: Renovations underway targeting office rents of $50+ PSF, driving meaningful NOI growth.
- NNN Lease Structure: 76% of GLA leased on a NNN basis, minimizing landlord responsibilities and enhancing net cash flow.
- Redevelopment Potential: Large ±130,718 SF center on ±8.72 acres offers substantial leasing flexibility and long-term redevelopment options.
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813-600-5908
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813-600-5908
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