Jones Lang LaSalle (“JLL”) is pleased to exclusively offer the opportunity to acquire The Offices at Pelican Bay (the “Property”), a 177,557 square foot multi-tenant, Class A portfolio located in Pelican Bay in the heart of Naples and adjacent to the Waterside Shops, Southwest Florida’s luxury shopping mall. The Offices At Pelican Bay is a 2-building, 6-story office portfolio amassed on 10.0 acres with structured parking and is ideally positioned to accommodate the most discerning office users in Southwest Florida. The Property offers immediate access to Naples’ most desired amenities & executive housing communities, is walkable to countless dining destinations at Waterside Shops, and serves as a mission critical location for wealth management firms in Naples that need to be in proximity to their clients.
The Property boasts a market leading 3.7 per 1,000 SF parking ratio and is 76% leased by some of Naples’ premier tenants including NewsBank, Wells Fargo, Hahn Loeser, Moran Wealth Management, Fischer International Systems, and Lupin Pharmaceuticals. Major Tenants have been at the property for an average of over 11 years, largely in part to the abundance of above market standard amenities offered at the Property including structured parking, on-site management staff, barber shop, conference/training area and a cafe. This offering represents the rare opportunity to acquire a trophy asset at below replacement cost and with upside through leasing up current vacancy. The 10.0 acres that the property sits on provides an investor additional value add potential by monetizing excess land via future development. The Offices at Pelican Bay and Naples have benefited significantly from the “Great Migration” that is taking place in the United States, bringing more businesses and residents to the state of Florida at record numbers for lifestyle and financial purposes.
· Long-Term Stability with Investment-Grade Tenancy
· Mark-To-Market Opportunity
· Unparalleled On-Site Amenities
· Vibrant Naples Residential Market
· Limited Future Capital Needs
· Development Opportunity