Hertz relocating to Estero
Gov. Scott, Hertz CEO announce relocation.
Photo by DAVID ALBERS // Buy this photo
The Estero site Hertz intends to purchase is a roughly 35-acre vacant parcel on the southeast corner of U.S. 41 and Williams Road. It’s bounded on the south by Coconut Point mall, the Rapallo at Coconut Point development and not far from where Lee Memorial Health System proposes a new hospital.
Owner: CP Land Investment LLC of Bonita Springs, a company managed by Oakbrook Properties Inc. of Bonita Springs. Oakbrook manages properties for the McArdle family, which owns Coconut Point mall and The Brooks.
History: The parcel is one of the last major components of a 482-acre development of regional impact, DRI, a zoning category for large developments affecting more than the immediate area. The DRI, which included plans for Coconut Point mall, a hotel, office, medical and residential development, was approved by government agencies in October 2002. It now includes Hyatt Regency Coconut Point Resort and Spa.
What’s next: Hertz must submit an application for 300,000 square feet of office space, with the possibility of expanding to 450,000, according to Mary Gibbs, director of Lee County Community Development. The Regional Planning Council is set to review the application June 21, followed by a county hearing examiner on June 27. Hertz goes before Lee County commissioners on Aug. 5.
Behind the deal: Ned Dewhirst, Oakbrook Properties’ senior vice president of Florida operations. A purchase contract, contingent upon county approval, was signed the second week of April, just weeks after Oakbrook was approached by Lee County Economic Development about an unnamed Fortune 500 company interested in the site, Dewhirst said. At the time, Oakbrook was discussing a possible purchase with a smaller company, but it never moved forward.
Price: Undisclosed, until the deed is filed.