KOVA Companies and its brokerage division, SVN|KOVA, has announced the sale of the Alico Business Center, located at 9961 Interstate Commerce Drive in Fort Myers. The 48,000-square-foot mixed-use office and retail space was sold by PIP IV Alico, LLC to Friendly Village, LLC for $9 million. Bryan Flores of SVN|KOVA Naples was the listing agent on the transaction, facilitating the sale in 45 days.
SVN|KOVA and KOVA Property Management took over the management and leasing of the Alico Business Center in 2016, bringing the property from 43% occupancy to 90% occupancy by summer 2018 before working with the owners to sell. While under the management of SVN|KOVA and KOVA Property Management, the property welcomed several new tenants including KB Hair Studio, Platinum Fitness and national tenants PeopleReady, Scotlynn and Spigot, Inc. while maintaining relationships with existing tenants such as AdKnowledge, Avis Car Rental and Sphinx Crossfit.
“This transaction exemplifies the value SVN|KOVA can bring to property owners through our leasing efforts, coupled with property management, accounting systems and insurance,” said Todd Sabin, managing director and partner for SVN|KOVA. “We are extremely proud of Bryan’s execution in the marketing and sale of this property as well as his collaborative efforts throughout all facets of this transaction.”
The Alico Business Center is located on Alico Road in Fort Myers, conveniently located next to I-75, steps away from dining, retail and hotel accommodations, across from Gulf Coast Town Center and approximately two miles from Southwest Florida International Airport and Florida Gulf Coast University.
“It’s a prime location with a lot of potential, and we worked with ownership to develop a strategic plan for the center’s growth,” said Anthony Emma, CEO and managing partner of KOVA Companies. “The implementation of this plan utilizing all of KOVA Companies’ verticals demonstrates how KOVA’s effective growth and income strategy can be implemented to facilitate a successful sale.”
