CRE Consultants Completes Sale of Strategic Office Portfolio
Bonita Springs & Fort Myers, FL – Randal Mercer and Brandon Stoneburner of CRE Consultants represented the seller in the sale of an office portfolio containing 3 well-known office campuses located in Bonita Springs and South Fort Myers, which were purchased by Brookwood Financial for $43,150,000. The strategic portfolio sale was the first Southwest Florida office acquisition for Brookwood Financial, a Massachusetts private equity real estate investment firm.
This 421,324 – square foot, Class A office portfolio includes 15 individual buildings in 3 locations. The sale was a triple net investment deal with the bulk of the square footage located in two projects in Bonita Springs known as Riverview Corporate Center and Bonita Executive Center. The third asset in the portfolio was Renaissance Center located near Daniels and I-75 in South Fort Myers.
The portfolio represented a rare, strategic opportunity for Brookwood Financial to acquire 3 “landmark office assets” within the Southwest Florida market with a long history of strong tenancy. Brookwood has the ability to build a long-term relationship with the tenants within these assets and to continue to add value to the portfolio through capital improvements, operational cost-savings, and the strong fundamentals of the portfolio and the future of the office sector in Southwest Florida.
The CRE Consultants’ team of Randal Mercer and Brandon Stoneburner will continue an ongoing partnership with Brookwood Financial, in the leasing effort for the remainder of the portfolio’s vacant space.