KOVA Reports $5.2 Million Sale of Orion Center

KOVA Reports $5.2 Million Sale of Orion Center

By Gail Leighton | Nov 01, 2016 | Events

KOVA Reports $5.2 Million Sale of Orion Center

SUITE TALK November 1, 2016 admin

The Orion Center, located at 6611-6631 Orion Drive just off Daniels Parkway in Fort Myers, has sold for $5.2 million. Thomas J. Baryl purchased the 30,021sf, mixed-use office/retail center from OSC Partners, LLC.

Eric Edwards and Bryan Flores of KOVA Commercial were the listing agents on the transaction.

KOVA Partners, LLC, took over management and leasing of the distressed property in 2015. At the time, the center’s 20,263sf of retail space had a 79 percent occupancy rate and 9,758sf of unoccupied office space. Within 14 months, the property was fully leased.

In addition to attracting several new tenants to the property (such as national credit tenant Brown & Brown), KOVA restored and expanded relationships with many existing tenants. As a result, KOVA exceeded its leasing targets, enabling the property to be sold several years earlier than originally expected.

For more information, visit www. KOVAPartners.com or call (239) 261-2627.