Mercantile Business Center was a value-add industrial repositioning in Naples, Florida, acquired in 2021 and realized in 2026.
The thesis was straightforward: Southwest Florida was underserved in quality flex and light industrial space, and an under-managed multi-tenant park could be repositioned into a stronger institutional asset.
During the hold, Forager executed an active leasing, capital improvement, and tenant relations program that materially improved the asset’s income profile and market position.
The project completed Forager’s first full U.S. investment cycle and helped establish the firm’s operating presence in Southwest Florida.