Expanding on the Gulf Coast, Cincinnati-based Fifth Third Bank has committed as the anchor tenant of the eight-story, 145,000-sf office building under construction at U.S. 41 and Vanderbilt Beach Road in Naples. The estimated hard cost value of the project is $21 million.

The bank, which already has 10 offices in Lee and Collier counties, will occupy 35,000 sf in the new project. Pre-construction rents are $19.75 psf to $23.50 psf.

Being built by Corporate Center at Vanderbilt LP, the project will include an attached, 495-space covered parking garage. Co-brokering the leasing transaction were the Fort Myers office of Grubb & Ellis/VIP-D’Alessandro and Codina Realty Services in Miami. Naples is 100 miles west of Downtown Miami.

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