At a glance
- The light industrial site spans 2.3 acres.
- The earlier buys in the Atlanta and Austin metro areas are leased to full-site users.
- Argosy plans to lease the Fort Myers site to an industrial user and is still hunting for more properties in Georgia, Texas, and Florida, where it says market fundamentals support demand for this small-format niche.
Argosy Real Estate Partners has closed on the off-market purchase of 12090 Metro Parkway in Fort Myers, Fla. The light industrial site spans 2.3 acres. Its buildings total about 22,800 square feet, IREI reported.
This is the third investment in Argosy's Sunbelt Industrial Portfolio, which strings together small-format industrial outdoor storage and light industrial assets in fast-growing markets across the Sun Belt. The earlier buys in the Atlanta and Austin metro areas are leased to full-site users. Fort Myers looks set for a similar tenant: the property's low coverage leaves room for outdoor storage alongside working industrial space.
Argosy plans to lease the Fort Myers site to an industrial user and is still hunting for more properties in Georgia, Texas, and Florida, where it says market fundamentals support demand for this small-format niche.
Bay Street Capital, founded in 2021, serves as the operating partner, focusing on value-add industrial outdoor storage and industrial real estate nationwide.
Argosy is accumulating small, low-coverage sites across several metros. Scale depends on deal count and yard utility, not rent per square foot. The Fort Myers buy fits that pattern, and the off-market route points to direct sourcing, a useful edge when competing for functional industrial yards.
Reported by the Deals desk from IREI. Published . Corrections