Survey: Estero among top suburban office markets

Miami /
Feb.February 07, 2016 09:00 AM

Estero, located in southwest Florida between Naples and Fort Myers, ranks among the top 50 suburban office markets in the country, according to The Boyd Co., a relocation consulting firm.

John Boyd Jr., a principal of the Princeton, New Jersey-based relocation firm, cited a decision by rental car company Hertz Global Holdings to build a new $50 million world headquarters in Estero.

Financial incentives totaling $19 million from the state government, Lee County and Florida Power & Light encouraged Hertz to relocate its headquarters from Park Ridge, New Jersey.

“Clearly, the Hertz move brought enormous stature to Estero,” Boyd told the Naples Daily News. “That’s a project that could have easily gone to Miami, Fort Lauderdale or the Treasure Coast.”

His firm based its compilation of the top 50 suburban office markets based on the geographical preferences of their clients, including such companies as Hewlett-Packard, J.P. Morgan Chase, Time Inc. and PepsiCo.

Boyd also told the Daily News that he expects more companies to put corporate offices in Florida as a “common ground for reluctant transferees from different cities and cultures.”

Suburban office markets “are alive and well,” Boyd told the Daily News. “It’s like the old Mark Twain saying: ‘The reports of my death have been greatly exaggerated.’ The death of suburban markets has been greatly overstated. These markets are in play for new corporate investment.”

Corporate mergers and acquisitions will become “a new driver for new head office buildings,” he told the newspaper. “Over the next 18 months, there’s going to be a need for new third-party head office sites.” [Naples Daily News] — Mike Seemuth


Related Articles

arrow_forward_ios
Stephen Ross (Getty) with Esperanté Corporate Center at 222 Lakeview Avenue in West Palm Beach
Related Companies buys half ownership interest in West Palm office tower
Related Companies buys half ownership interest in West Palm office tower
Brookfield Property Group CEO Brian Kingston and  a rendering of 15800 Southwest 25th Street (Brookfield, Rendering courtesy of Newmark)
Brookfield buys Comcast-leased Miramar building for $29M
Brookfield buys Comcast-leased Miramar building for $29M
Feldman Equities exec Larry Feldman and the Pinnacle Corporate Park office complex (Avison Young, iStock)
Feldman Equities buys Fort Lauderdale office complex for $59M
Feldman Equities buys Fort Lauderdale office complex for $59M
Grant Cardone and 18851 Northeast 29th Avenue in Aventura (Getty, Google Maps)
Grant Cardone buys Aventura office complex for $93M
Grant Cardone buys Aventura office complex for $93M
2828 South Seacrest Boulevard with ShareMD executives John Bardis and George Scopetta (Google Maps, LinkedIn)
ShareMD buys Boynton Beach medical office building for nearly $7M
ShareMD buys Boynton Beach medical office building for nearly $7M
CityPlace Tower and Related Companies founder Stephen Ross (Related, Getty)
Related Companies buys West Palm Beach office tower for $175M
Related Companies buys West Palm Beach office tower for $175M
Renderings of the Sunset Harbour project with Marc Rowan and Deco Capital Group's Bradley Colmer (Linkedin, Getty)
Deco Capital moves forward with new version of long-planned Sunset Harbour mixed-use development
Deco Capital moves forward with new version of long-planned Sunset Harbour mixed-use development
Ronny Finvarb and a rendering of the hotel (GEK Architecture)
Miami Beach residents rally against proposed hotel in Sunset Harbour
Miami Beach residents rally against proposed hotel in Sunset Harbour
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...