$45 million loan for Fort Myers industrial project

The developer behind Oriole Logistics in Fort Myers has secured a $45 million loan and will begin construction on the three-building project next month.

Terms of the loan were not disclosed.

The 442,000-square-foot industrial property is at 16815 Oriole Road and is being developed by Minnesota-based Capital Partners.

The plans call for Building 1 to 136,000 square feet, Building 2 to be 153,000 square feet and Building 3 also to 153,000 square feet. 

When complete, the property will feature 84 dock doors, 28-32-foot clear heights and a 580-stall parking lot, according to CBRE which arranged for the financing and announced the deal.

The project is near Southwest Florida International Airport, which is currently in its second phase of a three-year, $1.07 billion terminal expansion.

Capital Partners’ headquarters is in a suburb of Minneapolis. According to the company’s website, it has about 15.7 million square feet of industrial and $1.7 billion in assets under management.

That includes the Charlotte Harbor Business Center. It has completed three development projects across South Florida since 2023, CBRE says.

The firm’s Billy Mork, Joel Torborg and Mile Vannelli secured to financing for Capital Partners.