Advertisement

You will be redirected to the page you want to view in  seconds.

More

View Possible sites for Hertz's temporary headquarters in a full screen map

More coverage of Hertz moving headquarters to Lee County

Hertz Global Holdings is still looking for a temporary location while it relocates to Estero from New Jersey ó but itís not an easy choice to make.

The company announced Monday that itís building a 300,000-square-foot permanent location to house the 700 jobs it is bringing here from Park Ridge, N.J., in exchange for $85 million in state and Lee County economic incentives.

Company CEO Mark P. Frissora said that while the permanent place is being built, heís scouting Lee and Collier for ďsomething halfway economical.Ē

Thatís easier said than done because Hertz will be looking to take a large space for a relatively short lease during the roughly two years it will take to put up the final destination, said Randal Mercer, Randy Mercer, a partner in local real estate brokerage CRE Consultants in Fort Myers and Naples.

ďItís going to be very hard, but not impossible, for a landlord to accommodate the tenant needs on a short-term lease for the prevailing rates, he said.

Thatís because Hertz likely would require extensive remodeling for any space it moves into, Mercer said. ďIf a tenant is paying $200,000 a year rent for two years and they want $200,000 in improvements, that would make it mathematically difficultĒ for the landlord to make money.

However, if the tenant agrees to foot the bill for the improvements, a deal would be easier to negotiate, he said.

Hertz hasnít made a decision but there are possible solutions throughout the area, Mercer said: the Riverview Corporate Center in Bonita Springs has 100,000 square feet vacant in a nine-building complex.

Other possibilities: the 51,000-square-foot office building on Strada Stell Court in North Naples in the Vanderbilt Shops in North Naples and the 63,000-square-foot old Gartner Inc. building on Gateway Boulevard in Gateway.

More In Business

Top Stories

Local Deals

Flip, shop and save on specials from your favorite retailers on Marco Island

GET DEALS NOW

Marco beach cam

RESTAURANTS

Find local restaurants, read
and submit reviews

Celebrating the best of South Lee and North Naples

READ MORE

Reader Photos

Get the Hurricane Hub app

DealChicken.com

Sign up to save 50-90% off SWFL dining, shopping, spas, activities and more. Every day.