Equus Breaks Ground on the Florida Gulf Coast 75 Logistics Center in Punta Gorda, Florida
August 04, 2022
For additional information on the company, please contact: Joseph G. Nahas, Jr., Senior Vice President(215) 575-2363 or www.equuspartners.com
For additional information on the property, please contact: Daniel M. DiLella, Jr., Senior Vice President(215) 575-2352
AUGUST 4, 2022 - Equus Capital Partners, Ltd. (“Equus”), one of the nation’s leading developers and real estate investment managers, announced that it has broken ground on a 378,000 square-foot speculative warehouse logistics facility. The project, named Florida Gulf Coast 75 Logistics Center, is in Punta Gorda, Florida along Interstate 75, 20 miles north of Fort Myers and approximately 100 miles south of Tampa Bay. The project is strategically located midway between Naples to the south and Tampa/St. Petersburg to the north – a region that continues to see strong population and job growth. The facility is being constructed within the Enterprise Charlotte Airport Park (ECAP) and possesses immediate access to I-75.
“To have a national developer with the experience and expertise of Equus commit to a spec project of this magnitude in Charlotte County showcases the desirability of this location that many companies desire,” said Dave Gammon, Director of the Charlotte County Economic Development Office.
The population within a 2-hour drive time of Punta Gorda is 5,500,000. Additionally, there exists a high number of nationally recognized retailers with a strong presence on the west coast of Florida. Meanwhile, larger speculative industrial space (defined as 200,000 SF+) south of the Tampa Bay industrial market is non-existent. The Fort Myers market has seen strong leasing activity among users in the 100,000 SF and below size range, but larger development projects do not exist. There is a need for larger available space to service this corridor.
“We are very excited about the opportunity to bring a new, Class A speculative warehouse logistics facility to this market,” stated Dan DiLella Jr., Senior Vice President of Equus. “The west coast of Florida is one of the strongest and fastest growing regions in the Southeast U.S.”
The Florida Gulf Coast 75 Logistics Center will be a 32’ clear, single side loaded industrial facility and will possess 54 loading docks and 73 trailer storage spaces opposite the loading docks. Additionally, the project will consist of Class A industry standard LED lighting, 7” concrete floor and an ESFR sprinkler system.
With immediate access and visibility to Interstate 75 at the four-way Jones Loop Road interchange future tenants will enjoy a congestion free environment unlike that being experienced by warehouse users and their employees in the Fort Myers area. The Florida Gulf Coast 75 Logistics Center will be directly opposite a FedEx Ground facility that is under construction and nearing completion. This 250,000 SF FedEx facility will be a great asset for the area and could help to attract a user to the Equus project who relies on shipping within a 50 to 100-mile radius. Additionally, the Punta Gorda airport is just ½ mile north of the site providing easy air connections. “There is currently no available space of this size and quality in the region,” commented DiLella. “The Florida Gulf Coast 75 Logistics Facility will attract a user looking to service the high population and countless number of retail locations along the west coast of Florida. Upon completion, the project will bring jobs to the community, add supply-chain efficiency for a user in the region and increase the real estate tax base in the county.”
Gammon added, “There is really no secret why distribution companies like Cheney Brothers, Inc. and FedEx have expanded their operations here. Logistically, it’s a dream location for any distribution company looking to service markets north to Tampa and south to Naples.”
Equus has launched an aggressive local and national marketing program and anticipates the building will be partially or fully leased before its scheduled delivery. Dan Miller of Colliers International is spearheading the leasing efforts. “The project is receiving great interest and we have initiated discussions with some excellent quality tenants,” stated Miller. The facility is currently available for pre-lease with an anticipated completion of 2nd quarter 2023.
Equus Development, L.P., Equus’ development operating arm, will oversee development and construction.
About Equus Capital Partners, Ltd.
Equus Capital Partners is one of the nation’s leading developers and real estate investment managers. Equus’ diversified portfolio consists of industrial, multi-family, and office properties located throughout the United States. The firm is headquartered in the Philadelphia area with regional offices in Marina Del Rey, Scottsdale, Washington D.C., Atlanta, Raleigh-Durham, Chicago, and South Florida. For additional information, please visit the company’s website at www.equuspartners.com.