Industrial and Office Parks
Industrial and Office Parks are Key to Economic Growth in the Cape.
Cape Coral Focus on Flex Space
Industrial flex space has gradually risen to become one of the most sought-after types of space in the Cape. Flex spaces are attractive because they offer owners “flexibility” in terms of usage from office, to warehouse, to storage. They’re typically more cost-effective than traditional office buildings and offer higher ceilings, private restrooms and air conditioning to allow for a customizable space. Multiple units can be used by one company, ranging from 1,000 to more than 5,000 square feet depending on the business needs. Industrial flex space is becoming more popular as entrepreneurs and young professionals move away from traditional office spaces and headquarter buildings in search for options that they can own or lease and which better suit their business needs.
Some of the industries looking to capitalize on flex space in the Cape include:
- #1: Retail/Logistics
- Online sales and e-commerce will continue to grow by nearly 25% year-over-year. This increase results in the demand for office space that can serve as warehouse, storage and distribution center.
- #2: Office
- Flex spaces allow companies to customize their office space, allows all employees to work in a single space and provides a modern way for owners to gradually expand their business. Flex space can also function as co-working space or shared space by more than one business.
- #3: Tech
- Tech companies in all sectors need office space that is cost effective, modern and flexible. Flex space is the perfect fit for a tech company that may not have a lot of initial start-up capital but is looking to gradually expand.
Cape Coral is continuing to welcome industrial flex spaces in multiple locations throughout the City. Areas such as Burnt Store Road, Northeast Cape and Pine Island Road offer land that can be utilized to enhance the local-based businesses in the Cape, and developers are seeing the potential these types of spaces provide for the City.
John Moffatt, developer and real estate agent at Sun Coast Global Inc., recently filled a 10,000 square feet flex building just north of Pine Island Road and has another under construction just north of Aldi’s on Pine Island Road. Moffatt is also looking at opportunities to create medical-oriented condominiums, which is increasing in popularity here in the Cape.
When asked why Moffatt decided to develop these industrial/flex spaces in Cape Coral, he stated, “Florida is the state with the highest average rate of net migration over the past five years. Cape Coral, along with other Gulf Coast cities, has a very low corporate footprint. This allows small businesses to service the town and many of these businesses work out of flex warehouse and industrial spaces. I’m happy to provide the space for these businesses as they are the backbone of comfortable living in SW Florida.”
Ricardo Noguera, Economic Development Manager for the City, shared his vision as it related to office/flex spaces; “Here in the Cape, our Economic Development Team wants to support entrepreneurs who require flexible space which includes office and industrial components. Since there is little office and industrial space available currently in the Cape, developers are primed to create such developments across the city. A typical 10,000 square foot building can house anywhere from 5 to 10 businesses and can support up to 50 jobs. Our goal is to promote business development and job creation and promoting flex space is another opportunity to fulfill these goals.
Warehouse Flex Space under construction behind Aldi’s on Pine Island Road. There are seven (7) units listed for sale through John Moffatt at Sun Coast Global Realty. John Moffatt cell: 239-961-9001