Thompson Thrift Sells Two Fully Leased Multi-Tenant Retail Buildings in Southwest Florida
September 27, 2023
Cape Coral, FL
CAPE CORAL, Fla. (Sept. 27, 2023) – Thompson Thrift, a full-service nationally recognized real estate company, announced today the sale of two fully leased multi-tenant retail buildings at Cape Coral Commons in Cape Coral. An independent buyer from California purchased the buildings for an undisclosed amount.
“Cape Coral Commons sits at one of the key intersections in one of the country’s fastest growing cities,” said Ryan Menard, vice president of development for Thompson Thrift Commercial. “We are pleased to have completed a successful sale in such a high-traffic area.”
Located at the northwest corner of Del Prado Boulevard and Pine Island Road, Cape Coral Commons spans approximately 13 acres and consists of three 12,000-square-foot, multi-tenant buildings and four 1- to 2-acre outlot parcels. First Watch, Mission BBQ, Firehouse Subs, Tire Kingdom, Paragon Healthcare, Crumbl Cookies, PJ’s Coffee and Visionworks are all open. Encore Nails & Spa and Love Boat Ice Cream will be opening soon.
The remaining multi-tenant building is under construction and Thompson Thrift has commitments or leases for 75% of the shop space. It is anticipated that tenants in that building will open during the second quarter of 2024. Additionally, a 1.14-acre outlot parcel is available for sale or ground lease.
The Pine Island Road corridor sits in the heart of Cape Coral and is a state highway that stretches more than 20 miles from Interstate 75 westward to Pine Island. On a daily average, more than 47,000 cars travel Pine Island Road, with a similar number of vehicles traveling along Del Prado Boulevard.
Stretching along the Gulf of Mexico immediately northwest of Fort Myers, Cape Coral has experienced explosive growth over the past five years, making notable gains in the 18-24 age group. Cape Coral is often referred to as a “Waterfront Wonderland,” because it has more miles of canals than anywhere else in the world. Additionally, residents enjoy a variety of beaches within close proximity as well as seven golf courses and more than 30 recreational parks.
The economy in Cape Coral is supported by health care, retail and real estate/construction services, with the city’s top five employers including Lee Memorial Hospital, Lee County School System, Publix Supermarkets, City of Cape Coral and Walmart.
David Hoppe with Atlantic Retail brokered the sale for Thompson Thrift.
