Impressive Growth and Market Fundamentals Driving Southwest Florida Investor Interest
FORT MYERS, FL, March 14, 2018 — Cushman & Wakefield, as exclusive marketing agent, has announced the launch of its marketing campaign for Mosaic at the Forum Apartments, a newly-constructed, Class A multifamily community in Fort Myers, FL.
Developed by St. Petersburg, FL-based Mosaic Development and managed by affiliated Incore Residential, the offering presents a prospective investor the opportunity to acquire one of the newest, highest-quality multifamily assets in the nation’s fastest growing MSA.
Mosaic at the Forum was completed in December 2017 and consists of 252 apartments in 10, three-story buildings. The gated community offers the ideal combination of high-quality construction, well-appointed unit interiors and a comprehensive array of community amenities. The average unit size is approximately 908 square feet.
“Southwest Florida is a rapidly evolving market that has captured the attention of multifamily investors nationwide, many of whom are shifting their focus to Southwest Florida from larger or more expensive markets,” said Elorza. “This region’s demographic trends and solid multifamily fundamentals are very attractive to investors who are targeting growth markets.”
According to a recent study prepared by Cushman & Wakefield, the Fort Myers MSA led the nation for population growth in 2017. The region is projected to add over 130,000 new people by 2022. As of February 2018, the reported unemployment rate in Fort Myers was a low 3.4%. Statistics compiled by Axiometrics indicate the Fort Myers multifamily market is 95.5% occupied.
Added Capas, “Real population growth, low unemployment and ongoing facility expansions by major employers such as Gartner and the Lee Memorial Health System signal market strength, a critical element necessary to attract investment capital.”
Mosaic at the Forum is positioned on a 13-acre site at 3100 Champion Ring Road. The property has incredible Interstate 75 visibility, exposing the property to an average of ±86,000 vehicles per day. Two nearby interchanges facilitate immediate interstate access and the property is a short drive from more than 1 million square feet of retail, including Starbucks, Home Depot, Walmart and Publix.
The property also offers exceptional access to numerous major employers headquartered in the region, including Gartner, Hertz, Chico’s FAS and Arthrex, as well as Florida Gulf Coast University, which has grown dramatically in recent years. It is also ±12 miles north of Southwest Florida International Airport (RSW).
Cushman & Wakefield’s Florida Multifamily Team is directed by Given and includes Elorza and Capas leading West Florida; Zachary Sackley, Troy Ballard, Neal Victor, Calum Weaver and Errol Blumer in South Florida; Jay Ballard and Ken Delvillar in Central Florida; and Julie Bohn in Jacksonville. Robert Kaplan, Chris Lentz and Mark Rutherford facilitate debt, equity and structured finance transactions for the team throughout Florida.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.