November 4th was a big day of the Collier County Supervisor of Elections. Not only was it election day, but it was the day that the Elections Board closed on the purchase of a new building to call their home. The County purchased a 30,000 square foot industrial/office complex at 3750 Enterprise Avenue in Naples. The complex sold for $3,337,500.00 and included a three story office building of about 15,000 square feet and a 15,000 square foot warehouse.
The complex was sold by Kiropa Island LLC, an investment partnership from South Dakota who was represented by Dougall McCorkle of Premier Commercial Inc.
McCorkle also represented the purchase of this same property by Kiropa Island a little more than a year ago, which was bought at that time for $2.495 million. “We knew the property had tremendous value-add potential when we bought the asset a year ago, so the investors were very pleased when we were able to capitalize on the strategy we set forth” stated McCorkle. “Over the past year, the market value of industrial properties have risen dramatically, so the County is still getting a state-of-the-art building at well below market value plus they bought an asset that is at least 50% below replacement cost, accordingly it’s a win-win for everyone” McCorkle adds.
The Enterprise Building is one of the highest quality office/warehouse facilities in Southwest Florida, truly an institutional grade property. It was originally constructed in 2007 by local electrical contractor EB Simmonds before being purchased by Kiropa. Just about everything about the building is state-of-the-art, from the energy efficient lighting to the dramatic architectural lines. It is a building that won many architectural accolades for its design and innovation.
“The complex was really the perfect answer to the Supervisor of Elections’ multi-purpose needs. Not only does it consolidate the Election Board’s current facilities at one location, but it allows for the storage of voting equipment in its bunker-like warehouse construction as well as housing the staff and interfacing with the public in a more efficient and professional setting. “says McCorkle.
For more information about this sale, contact Dougall McCorkle at 239-860-3368