The sale of the Metro Plex 7 industrial and flex portfolio in Fort Myers, Florida, reflects the ongoing popularity of small-bay industrial space among contractors and service providers, especially for close-in projects near major roadways that offer tenants efficient access for local distribution, service routing and employee commuting.
The portfolio sale to B&D Holdings, a private real estate investment firm based in New Jersey that specializes in acquiring and operating infill industrial properties with rent upside potential, occurred despite the challenges posed by higher interest rates, tighter credit standards and increased scrutiny around tenant quality and lease durability.
Developed to support a wide range of light industrial, service and flex users, the small-bay industrial buildings feature efficient layouts, functional clear heights and flexible bay configurations that allow tenants to adapt their space to evolving operational needs. This flexibility has contributed to sustained tenant demand and full occupancy at the time of sale.
A key element of the transaction was the diversity of the tenant base across the seven buildings. Rather than relying on a single anchor or specialized user, Metro Plex 7 supports multiple industries and business types, reducing concentration risk and creating a more resilient income stream. Financing was secured through a conventional first mortgage, demonstrating lender confidence in the underlying cash flow and asset quality despite a cautious lending environment.
It is for these reasons this deal earned a 2026 CoStar Impact Award, as voted by industry judges in the market.
About the project: Metro Plex 7 is a seven-building industrial and flex portfolio totaling approximately 218,000 square feet in Fort Myers, Florida, combining stabilized in-place income with meaningful upside through lease rollover and mark-to-market opportunity.
"This transaction highlights the strength of the South Fort Myers industrial market, where limited supply and strong demand fundamentals continue to drive significant rental rate appreciation," said Max Custer, a senior director on the JLL Capital Markets team that arranged financing for the buyer. Others on the team included Managing Director Thomas E. Didio Jr., along with Analysts Michael Donohoe, Caleb Henry and Jovannie Rodriguez.
What the judges said: "This is a major corridor of industrial buildings that can still be leased below market, and the customers they house, like Omicron and Town & Country, serve both the local building industry and the community daily. This sale simply has more impact."
They made it happen: Nick Watson, Jake Lurie and Aiden Hawkins of Matthews Real Estate Investment Services were the listing brokers who marketed the portfolio on behalf of the seller.