CrownPoint Partners Secures $4.5 Million Acquisition of Merchants Plaza in Cape Coral

CrownPoint Partners, a prominent real estate brokerage specializing in net lease investments, announced a significant acquisition: Merchants Plaza, a fully leased neighborhood shopping center located in Cape Coral, Florida, has been sold for $4.5 million. This deal highlights the growing demand for commercial properties in Florida’s booming real estate market.

Key Details of the Acquisition

• Location: 155-159 Hancock Bridge Parkway, Cape Coral, FL
• Total Size: 15,098 square feet on a 1.2-acre lot
• Occupancy: 100% leased to seven tenants, including:
  • Tires Plus (Bridgestone Tires)
  • PI Pizza
  • Tobacco Shop
  • Lee Nails
  • Floral Designs
  • Palm Tree Massage
  • Cape Palace Arcade
• Strategic Positioning: Situated at the intersection of Pine Island Road, Santa Barbara Boulevard, and Hancock Bridge Parkway, Merchants Plaza is surrounded by other retail centers and national brands, including Publix, McDonald’s, and Walgreens.

Market Insights

Shannon Bona, a Managing Partner at CrownPoint, stated, “Quality, multi-tenant assets in Florida’s top MSAs are highly coveted and make phenomenal additions to any investor’s portfolio.” This sentiment is echoed by the rising demand for stabilized retail assets, as highlighted in a report by the Cape Coral Economic Development Office, which revealed a 58% year-over-year increase in commercial construction permits.

Why Cape Coral?

The recent growth trajectory of Cape Coral makes it an attractive investment destination. Notable facts include:

• Pine Island Road is one of the city’s most active retail corridors.
• The surrounding area has seen significant commercial growth, catering to a diverse retail market.

Bona emphasized, “CrownPoint Partners’ Florida presence has played a central role in our momentum. The Gulf Coast is home to some of the fastest-growing markets in the country.”

Negotiation and Financing

The acquisition was initially listed at $4.9 million, allowing CrownPoint to negotiate a finalized sale price of $4.5 million, which is 91% of the listing price. According to Bona, effective communication and demonstrating the buyer’s commitment were crucial in securing this deal.

Financing for the acquisition was arranged by Niko Buntich of Trinity Capital Corp. “We collaborate with trusted debt placement experts to ensure clients receive competitive and customized financing solutions,” Bona added.

Recent Upgrades to Merchants Plaza

Merchants Plaza has undergone significant refurbishments in 2023, which include:

• A new roof
• Upgraded HVAC systems
• LED lighting
• New pylon signage
• Enhanced exterior finishes

This comprehensive renovation offers a turnkey investment opportunity for future owners.

About CrownPoint Partners

CrownPoint Partners operates nationally, with offices in West Palm Beach, Florida, and Newport Beach, California. The firm specializes in net lease investments and sale-leaseback advisory services, providing comprehensive support throughout the investment process.

Services Offered

• Net Lease Investments
• Sale-Leaseback Transactions
• Investment Sales and Acquisitions
• Corporate Expansion
• Value Optimization

CrownPoint Partners is committed to building lasting partnerships with clients, ranging from REITs and private equity firms to developers and individual investors. They pride themselves on consistency, transparency, and responsible investment practices.

For more information about CrownPoint Partners and their services, visit CrownPoint Partners.

By focusing on key aspects of this acquisition, including the strategic location, market trends, and recent upgrades, this article aims to provide clear insights while optimizing for relevant search terms.