Advertisement

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

Hertz's selection process on temporary location
Hertz's selection process on temporary location: News-Press reporter Dick Hogan talks about Hertz's selection process for its temporary location in Naples on Thursday. Video by Jack Hardman/news-press.com.
The Hertz Corp. announced Thursday the location of its temporary worldwide headquarters will be at the Fifth Third Center at Vanderbilt Beach Road and U.S. 41 in Naples. / Kinfay Moroti/news-press.com

Hertz temporary headquarters location

Name: Fifth Third Center
Location: 999 Vanderbilt Beach Road, Naples
Of note: Biggest office building in Naples
Age: Completed in 2002
Owner: Southern Holdings 3 LLC of Bloomington, Minn.
Current tenant: Fifth Third Bank
Value: Appraised value is $19.3 million
Size: 2.51 acres, eight stories, 161,000 square feet
Most recent sale: Southern Holdings purchased the building Sept. 26 from FTC Naples LLC for $49.9 million.

Source: Collier County Property Appraiser and public record.

More

Special page: Learn more about Hertz moving its headquarters to Southwest Florida

Hertz Global Holdings will set up shop for about two years in Naples’ biggest office building — subleasing from Fifth Third Bank until Hertz’s permanent world headquarters in Estero is built.

The vehicle-leasing giant’s temporary quarters are in the Fifth Third Center at Vanderbilt Beach Road in north Naples, about 12 miles south of where the company’s 300,000-square-foot permanent headquarters will be built.

Hertz announced the relocation May 7 and has been searching for a temporary place to house about 50,000 square feet of offices.

Vice president for corporate affairs Richard Broome said the location of the Fifth Third building wasn’t the crucial factor.

“The most important factor was our ability to move in the right number of employees on our time schedule,” he said. “This building was the best from that perspective.”

Hertz will take possession of the first space it needs in August, with 10 to 20 top executives moving in by October, Broome said. “It doesn’t leave you a lot of time to do a lot of refurbishment or build-out.”

Broome declined to discuss details of the move.

But Dougall McCorkle of Premier Realty, leasing agent for the building’s owner — Southern Holdings 3 LLC of Bloomington, Minn. — said the deal is a sublease by Fifth Third, the largest tenant, which occupies several floors.

Only 7,500 square feet of the 161,000-square-foot, eight-story building remains vacant, and that space won’t be part of the Hertz relocation, he said.

Randal Mercer, a partner in real estate brokerage CRE Consultants in Fort Myers and Naples, was the original pre-construction leasing agent for the Fifth Third building before it opened in 2002.

He noted that the bank is paying rent on about 17,000 square feet of vacant office space, some of it furnished, in a building where it has a branch at Daniels and Metro parkways in Fort Myers.

That space would be available for some bank employees to move at least temporarily, Mercer said. “It would be very hard for any other landlord” to make a deal work at a reasonable price because most space would have to be reconfigured for office use.

Broome said the Hertz temporary headquarters will be housed strictly in the Fifth Third building. Bank officials couldn’t be reached for comment Thursday evening.

The executives moving here in October will be followed by about 100 more in early 2014 with more to follow later, he said.

Some of those 100 jobs will be filled by employees moving from Pine Ridge, Broome said, but “We don’t know how many of those folks will come down with us.”

Those who elect not to will be replaced, he said. “We won’t rehire in New Jersey. We’d rehire in Florida.”

But it’s too early to say which jobs will be available, Broome said. “We won’t have a clear idea about that until mid to late August.”

Connect with this reporter: @DickHogan (Twitter) or email dhogan@news-press.com

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.