The scarcity of commercial space in Cape Coral has stymied the burgeoning business opportunities the city's escalating population has brought.  Commercial-zoned land is hard to come by, and what is available are generally older facilities, most too small or ill-equipped to accommodate large operations. 

Eight out of 10 times, companies that would like to relocate in the Cape insist that a building be available for them to move into in four to six months, notes Mike Jackson, Cape Coral's economic development director.  That's why McGarvey Development Co.'s new commercial buildings in the Mid Cape Corporate Center are so significant.

"Imagine a car dealership with no cars in the lot," says company president John McGarvey.  When companies come into a market, they can't wait for a building to be completed; they want space in 60 to 90 days - and that's a significant part of his business plan, especially in the growing Cape Coral market.  "We're inventory-based," he explains.

"The economic development office has for several years focused its efforts in attracting spec investors to build these buildings," says Jackson.

"John McGarvey has been a tremendous resource.  He has invested heavily in property and site and design work to fulfill his vision of providing class-A office space, high-quality warehouse space, and even smaller workspace for start-up companies."

McGarvey saw the growth trend a few years ago, and staked its position - partly by relocating its own headquarters last June from Bonita springs into its new Renaissance Center, at I-75 and Daniels Parkway.

"Growth is moving toward the north," says company vice president Charles Jans.

"The Fort Myers and Cape Coral areas are poised for the next wave of commercial and industrial development, and it became necessary to position ourselves accordingly."

McGarvey's investment in Cape Coral commercial development is paying off quickly.

Exel, a company with about 25,000 employees in the United States and Canada that provides distribution and other logistical support to companies, has leased the 37,933-square-foot Building I at 71 Mid Cape Terrace.  Although Exel is a diverse company with many facets, this division, Exel Direct, specializes in direct home-delivery of products ranging from appliances to furniture.

"To me, it's one of the most significant things that's happened in economic development in the Cape in the last year," says Jackson.  "If [Exel] hadn't had the building to move into, would they have moved here?"

The Mid Cape Corporate Center, on 32 acres along Pine Island Road, includes a charter school and three buildings of flex office/warehouse space.  Four additional class-A office buildings under construction will add 176,500 square feet to the existing 180,000 square feet.  East Cape Commerce Center, on about 50 acres fronting Pondella and Pine Island roads, is another McGarvey project.  It will include flex space and office space designed for Cape Coral's abundance of small businesses, many of which are now home-based.

"Our research indicated that demand existed to support this type of development, and the absorption of nearly 35 percent of the total flex product [in the Mid Cape center] is clear evidence of this conclusion," Jans says.  "The remaining buildings have reached 50 percent absorption with commitments from nine additional tenants.  We anticipate continued success for the coming office buildings."

"Projects like this are absolutely critical to economic development in the Cape," adds Jackson.  "John has been a great partner, and his investment is the perfect story."

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