KOVA Partners, LLC has announced the sale of the Orion Center, located at 6611-6631 Orion Drive in Fort Myers. The 30,021-square-foot mixed-use office and retail space was sold by OSC Partners, LLC to Thomas J. Baryl for $5.2 million. Eric Edwards and Bryan Flores of KOVA Commercial, LLC were the listing agents on the transaction.
KOVA Partners, LLC took over management and leasing of the distressed mixed-use property in 2015 with the 20,263 square feet of retail space at 79 percent occupancy and 9,758 square feet of vacant office space with no occupants. Within 14 months the property reached 100 percent occupancy. In addition to attracting several new tenants to the property, such as a national credit tenant, Brown & Brown, for the entire office space, KOVA restored and expanded relationships with many existing tenants including a new lease with the Domino’s franchisee. KOVA Partners, LLC’s aggressive leasing plan enabled target occupancy to be exceeded, and the property to be sold several years earlier than originally anticipated.
“In collaboration with ownership we developed a strategic growth and income strategy for the Orion Center,” said Anthony Emma, Jr., CEO and managing member of KOVA Partners, LLC. “The success of this asset provides a great example of our team’s commitment to fulfilling our shareholder and clients’ needs while exceeding expectations.”
The Orion Center is located on Daniels Parkway in Fort Myers three miles from I-75 and one mile from US-41, conveniently situated in close proximity to shopping, dining and entertainment amenities.
About KOVA Partners, LLC
KOVA Partners, LLC is a privately owned, fully integrated real estate firm and real estate investment fund manager engaged in the development, financing, investment, managing, insurance and leasing of a wide array of real estate investment products and services. With offices in Naples and Bonita Springs, as well as numerous strategic partnerships with third party affiliates, KOVA Partners is comprised of KOVA Commercial, KOVA Property Management and KOVA Insurance, and prides itself on its ability to enhance profitability for all of its clients through strategic partnerships and effective solutions. For additional information about KOVA Partners, LLC, please visit www.KOVAPartners.com or call 239-261-2627.