Pinebrook Park
Fort Myers, FL Page Park

$26,500,000 USD

General Retail For Sale • 142,966 SF

6 Properties View all

Property Details

Property Type General Retail

30 Transit Score

60 Walk Score

                
                    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.