Stonemont Financial Group sells 500,000 SF Industrial Complex in Fort Myers, FL
| American Journal of Transportation
READ THE FULL ARTICLE HERE
Stonemont Financial Group, a private real estate investment firm specializing in industrial development, acquisitions and net lease investments, and its partner, Geis Development, have completed the disposition of Legacy at Oriole Road in Fort Myers, Florida. EQT Exeter, a global real estate investment management firm, has purchased the 500,000-square-foot complex.
Completed in Q2 2023, Legacy at Oriole Road includes two 250,000-square-foot warehouses on a 34-acre site less than a mile from Interstate 75, offering direct access to Tampa and Southeast Florida. In a standout deal last year, the park secured one of the largest leases in Southwest Florida history with a full building, 250,000-square-foot lease at Building 2. Only six of similar size have been recorded in the market’s history.
“Legacy at Oriole Road represents our strategy to deliver high-quality, institutional-grade industrial assets in key growth markets, and this sale is evidence of the project’s strong appeal in a flourishing region,” said David Kaplan, Vice President of Asset Management at Stonemont. “Legacy’s success underscores the strength of tenant demand in the region and the value created through our partnership with Geis Development. We’re proud to have played a role in bringing best-in-class logistics space to Fort Myers and look forward to continuing to provide industrial solutions for users across Florida.”
According to JLL’s latest U.S. market report, the national industrial sector recorded its strongest quarter since Q2 2024, with 123.3 million square feet of leasing activity across the country. Stonemont remains active in Florida, currently owning over 4.4 million square feet of development in markets spanning the state. The firm is nearing completion of 429 Business Center, a 259,000 square-foot industrial development in Ocoee, Florida and TIA Executive Center, a 100,698-square-foot industrial facility in Tampa.
Hassan Mahmood with KBC Advisors represented Stonemont in the sale.