KOVA Partners announces sale of Orion Center
NAPLES, Fla. (Sept. 13, 2016) – 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.