JLL Arranges $48.35M Sale of Meridian Business Campus in Fort Myers, Marking Southwest Florida's Largest Industrial Deal of 2026

FORT MYERS, Fla. — JLL Capital Markets announced June 23 the $48.35 million sale of Meridian Business Campus, a newly constructed, four-building shallow-bay industrial portfolio totaling 208,447 square feet in Fort Myers, Florida. JLL represented the sellers — a joint venture between Geis Companies and Westminster Capital — in the transaction. Strategic Capital Partners acquired the asset.

The deal marks the largest industrial sale by transaction price in Southwest Florida — a region comprising Lee, Collier, Glades, Hendry and Monroe counties — recorded in 2026, according to JLL.

Asset Overview: New Construction, Near-Full Occupancy

Completed in 2023, Meridian Business Campus consists of four shallow-bay industrial buildings situated on 17.3 acres along Ben Hill Griffin Parkway at 16101–16301 Parallel Dr. The master-planned business park features an average building size of approximately 52,000 square feet and an average suite size of approximately 19,000 square feet, with 18- to 20-foot clear heights throughout.

At the time of sale, the property was 96.5 percent leased to eight tenants across distribution, building supply, manufacturing and healthcare services. At 208,447 square feet and a sale price of $48.35 million, the transaction implies a price of approximately $232 per square foot.

The shallow-bay, multi-tenant format — with suite sizes averaging roughly 19,000 square feet and clear heights in the 18- to 20-foot range — is tailored to regional distributors, building trades users, light manufacturers and healthcare services tenants.

Location and Logistics Advantages

Meridian Business Campus benefits from direct access to Interstate 75 via an adjacent interchange, positioning tenants within a four-hour drive of 81 percent of Florida's population, according to JLL. The campus sits between Sarasota and Naples, providing access to more than 4.4 million consumers within a 120-minute drive time.

The property is located approximately three miles from Southwest Florida International Airport, which JLL describes as the second-busiest single-runway airport in the United States, and 13 miles from downtown Fort Myers.

Seller and Buyer Profiles

Westminster Capital, headquartered in Lake Forest, Illinois, manages real estate investment strategies for private wealth capital, including closed-end investment funds and separate account portfolios totaling more than $1.25 billion of investor capital. The firm invests across industrial, residential, medical office and self-storage properties, with a focus on value-add to opportunistic returns. Westminster Capital was founded in 1988.

Geis Companies is a vertically integrated real estate organization consisting of six divisions that can operate independently or in combination, an approach the firm describes as its "Full Cycle" model.

Capital Partners, the buyer, is a boutique industrial real estate firm based in the Twin Cities area of Minnesota. The firm focuses on acquiring, managing and selling industrial assets through co-investment partnerships.

JLL Brokerage Team and Market Commentary

The JLL Capital Markets team was led by Senior Managing Directors John Huguenard and Luis Castillo and Managing Director Cody Brais.

"Geis and Westminster delivered a rare institutional-quality shallow bay offering in one of Florida's highest-growth markets, creating immediate investor appeal through the combination of stable cash flow and near-term value creation through lease-up of the remaining vacancy," Brais said. "The property's strategic I-75 location and limited competition for this product type in Southwest Florida drove exceptional buyer interest."

JLL's Capital Markets group operates globally with more than 3,000 specialists in nearly 50 countries, providing investment sales and advisory, debt advisory, equity and fund placement, and related services.

Sources

JLL Newsroom — JLL arranges largest SW Florida industrial sale of the year (June 23, 2026)