Lee Memorial deal dominates Southwest Florida

Speaking of superlatives, Lee Memorial Health System's commitment to lease 40,000 square feet of space being constructed adjacent to its hospital in Fort Myers marks the largest office deal of the year.

But the deal for the new four-story building, at 13340 Metro Parkway, also represents the biggest lease transaction in all Southwest Florida since 2013.
It also more than doubles the largest comparable deal of this year, too, a 20,000-square-foot lease in Bonita Springs, and marks the first new Class A office development in Lee County since last decade's economic recession.

“It's very out of the ordinary to have a 40,000-square-foot lease in this market,” says Adam Palmer, a LandQwest Commercial principal who negotiated the Lee Memorial transaction. “There have only been 10 deals in all of 2016 of 10,000 square feet or more this year, and this outpaced transactions from all of last year.”

Developer Metro-Daniels Investors LLC and Stevens Construction are expected to complete the new building next October, following the Dec. 15 official ground breaking.

Lee Memorial is expected to operate an urgent care center on the building's ground floor, with cardiology and infectious disease control workers on upper floors.