In 2019, Columnar acquired this 100-acre partially developed Industrial Park through a friendly foreclosure sale in Lee County, FL. Due to Columnar’s ability to close quickly and a relationship with the Seller’s broker, Columnar was successful in negotiating a purchase, beating out multiple buyers. The property is adjacent to a full interchange on I-75 in the northern part of Fort Myers, equally distanced between Naples and Sarasota. Columnar was successful in winning approval of a land use change and zoning that changed the site from commercial and apartments to 1.1MM SF of Industrial and 200k SF of commercial. Columnar purchased the property for $1.66/SF, with Phase 1 fully developed. Columnar plans to sell the commercial land and develop the Industrial portion.