Atlantic Capital Partners has been engaged to offer for sale Cape Coral Commons, a newly constructed convenience-oriented shopping center in the premier retail hub of a rapidly growing community. The offering is comprised of two (2) free-standing retail strip centers in the booming Cape Coral – Fort Myers MSA. Having year-round warm temperatures and a plethora of beach-going activities, Cape Coral draws millions of visitors to Lee County each year. The immediate surrounding area features many new developments including hotels, retail, industrial, and office properties that are under construction or planned for the near future. Cape Coral’s population is forecasted to double within the next 20 years, and is poised to experience several decades of rapid economic growth.
The property sits on 3.17 acres and is strategically situated along a signalized intersection with approximately 80,000 vehicles per day. A robust and diverse mixture of tenants will help draw customers to the subject property. The subject property benefits from its location on the Pine Island Road, which is an established retail node which features national tenants such as CVS, Lowe’s Home Improvement, Publix, Panera, Target, Burlington, Walmart, and Chipotle, in addition to countless others that experience strong traffic. The population within a 5-mile radius is expected to increase over the next 5 years by 14.06%. A beneficiary of the growing coastal Florida population, Cape Coral is positioned to remain a top option for people who want to be in proximity to the Gulf of Mexico while also being part of a suburban atmosphere.
Totaling 23,786 sf, all of which is included in this sale, Cape Coral Commons features a First Watch, Mission BBQ, Vision Works, Paragon Health, Love Boat Ice Cream, Encore Nail Bar, Crumbl Cookies, Firehouse Subs, and PJ’s Coffee. All nine tenants in this sale have shown their commitment to the location by executing leases with ten year terms, that also include attractive rental increases throughout the initial term and options.
Cape Coral Commons is being offered for sale without a formal asking price, free-and-clear of existing debt.
- Diversified Tenancy
- Booming Market
- Limited Exposure to Capital Repairs
- Favorable Lease Structures
- Signalized Intersection With 2 Curb Cuts
- Growing & Affluent Demographics
- Dense & Growing Retail Corridor
- High Visibility and High Traffic Counts
- Tenant Commitment