1/2/2008

CBRE sells Naples industrial facility for $20.56M

by

Shaw Aero Design and Manufacturing Facility

Fort XI, LLC has acquired the Shaw Aero Design and Manufacturing Facility in Naples, Fla., for $20.56 million from Shaw Realty Corporation.

Randal Mercer of CB Richard Ellis' Ft. Myers office and Charles Foschini of the company's Miami office brokered the deal.

The 131,9997 square foot industrial facility is located at 3580 Shaw Blvd. and is the home of Shaw Development, a designer and manufacturer of systems and components for military and commercial aviation. The building is situated on 14.77 acres and consists of three buildings; a 54,247 square foot office building, a 65,000 square foot manufacturing building and a 12,750 square foot testing building. The buildings were built in 1999 and are 100 percent occupied with a 15-year triple net lease.

Mercer is a partner with CBRE and since 1998 has been the co-manager of the company's Fort Myers and Naples offices. Prior to joining CBRE, he was president of Mercer Investment Properties, a full service brokerage firm.

Foschini is a managing director in CBRE Melody's South Florida office. He began his career with CBRE in 1985 and founded CBRE Melody in 1998. He was promoted to senior director in 2003 and is an adjunct professor at the University of Miami School of Law.

Address: 3580 Shaw Boulevard, Naples, Fla.

Size: 131,997 square feet

Built: 1999

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Filed Under: Industrial

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