The financing for the new owner was arranged through Orion Bank. The property is located at 2000 Main St. and at the time of the sale, the building was 86% leased. Tenants include SunTrust Bank; Allstate Insurance; Kubicki-Draper PA; Conroy, Simberg, Ganon, Krevans & Abel PA; George, Hartz & Lundeen PA; Lee County government; and Parvey, Frankel & Nelson PA, among many others.
The SunTrust Plaza building was built by Stiles Corp. in 1987. Stiles will continue to manage and lease the property for Fort Myers Venture l LLC.
Bud Cusack, who represented Fountain Square Associates in the deal, identified several reasons why the sale made sense for Stiles Corp. at this time.
"It met our investment criteria that was established when we developed the building in the late 80s, the sales price was at market or above, and it offers us the ability to seek other development opportunities on the West Coast of Florida," Cusack, regional president for the West Coast of Florida for Stiles Corp., tells GlobeSt.com. "It's one of the finest office buildings in downtown Fort Myers."
Stiles is in charge of more than 25 million sf of office, industrial and retail space in the southeastern United States. Warren Segraves of Coldwell Banker Commercial NRT in Naples represented Fort Myers Venture l LLC in the transaction.
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