Coca-Cola Parent Buys Massive Warehouse in Fort Myers for $65 Million
Coca-Cola Florida's parent company has made a significant move in the industrial real estate market by purchasing the Highland Commerce Center, a massive warehouse in Fort Myers. The deal was finalized for $65 million, with the company paying about $135 per square foot for the 481,933-square-foot building.
The warehouse, which has been vacant since its completion in 2024, features 96 dock doors and 138 trailer parking spaces, as well as office space. The purchase price is lower than what was seen in similar deals three years ago, with industrial sales going for between $170 and $190 per square foot at the time.
According to Matt Simmons, managing partner of Maxwell, Hendry & Simmons, the new warehouse will make a significant impact on the regional vacancy rate. 'If Highland Commerce Center is fully used, that alone will move the needle,' he said. The current industrial vacancy rate in Lee County is around 10.1%, with about 3.2 million square feet remaining vacant.
The purchase is also notable for its proximity to Interstate 75, making it an attractive location for companies looking to expand their operations in the region.