On completion, Stiles sold the building to Sonia Lee Investments Inc., which is "a single-purpose investor represented by a New York banking firm," Sim Wilson, first VP of the Miami office of CB Richard Ellis, tells GlobeSt.com. Wilson and Randy Olen, SVP in the same CBRE office, represented the owner in the renewal.

Brian Given, vice chairman of the New York City office of GVA Williams, represented Sony in the negotiations. Given tells GlobeSt.com that Rob Brooks, regional director of the local office of Atlanta-based Songy Partners, "was our contact in Fort Meyers.

"As its lease was expiring, Sony evaluated options in the area," Given says. "They liked the local labor pool." Both Given and Wilson declined to disclose the value of the renewal and asking rates for buildings of this type in this submarket.

The most recent rental-rate data from the Fort Myers office of CBRE is year-end 2004. At that time average rates for office space ranged from $11.92 per sf to $13.06 per sf, and averages for industrial space spanned from $5.56 per sf to $6.47 per sf.

"Vacancy has declined and rates have increased in the past year," a representative in that office says but declined to quantify the average increase. Even on condition of anonymity, an area broker from another local firm declined to speculate on the Sony renewal rate, but tells GlobeSt.com, "it's an unusually equipped building, and the rate probably falls between office and industrial rates."