The Ninigret Group has completed its acquisition of 8900 Colonial Center Drive in Fort Myers, Florida. The single-tenant property was leased to Tesla in February 2021.
The 4.5-acre parcel purchased by the Utah firm contains a 13,985 square foot building with a parking lot area providing 280 spaces for customer and inventory parking. The building houses a Tesla showroom and service center and is situated less than a mile from the only supercharging location within 25 miles.
For The Ninigret Group, the investment was an opportunity to acquire a property with great visibility and high traffic counts due its corner location on one of the busiest avenues in Fort Myers, as well as its proximity to I-75. As an added benefit, the property is leased to one of the most innovative and recognizable car companies in the world and will enable Tesla to service the rapidly growing Southwest Florida market. Andrew Kern, an investment analyst on the deal, explains, “8900 Colonial is an attractive property with a large amount of land and a high-quality location, an increasingly rare combination for retail properties in the booming Southwest Florida market. We expect that the large lot size will be fully utilized by Tesla’s operation.”
The transaction marked the latest addition to The Ninigret Group’s expanding Southwest Florida portfolio and was arranged by Clint Sherwood of Investment Properties Corporation of Naples.