Pine Island Nicholas Coffee LLC purchased the retail strip center at 706 SW Pine Island Road in Cape Coral for $5.025 million. The newly constructed, 10,454-square-foot center on 1.6 acres sold with 100% occupancy from national retailers who filled several voids in the Cape Coral submarket. “Northeast Cape Coral is experiencing double-digit annual population growth, due partially to the newly installed water and sewer infrastructure,” said Bob Pekol, LandQwest Senior Associate and buyer representative. “As the population continues to grow here, you can expect to see continued expansion of service-oriented retailers.” LandQwest Founding Principal, Rokki Rogan, represented the seller, EBCP 700 Pine Island LLC.

Fred Pezeshkan and Jerry Starkey’s company Metropolitan Naples LLC completed the purchase of land in the Bayshore Gateway Triangle from the Collier County Redevelopment Agency (CRA) on Nov. 13. Starkey and Pezeshkan won a CRA design competition to create a community that would be transformative and stimulate redevelopment and entered into an agreement to purchase the property in 2016 contingent upon receipt of entitlements and relocation of an existing 190-foot communication tower on the site. The community will be known as Metropolitan Naples and will be comprised of three mixed-use buildings. Humphreys & Partners Architects will serve as the master architect and coordinate the overall community design and building vernacular. Each building will have ground-floor retail and restaurants that will conceal internal structured parking. On top of the retail and parking will be luxury residences, Class A office space and potentially a luxury hotel.

 

A trend seemingly emerges as Dollar Tree stores backfill Pier 1 spaces across the nation. Such is the case at 17901 Summerlin Road in Fort Myers, where the 18,065-square-foot retail center once anchored by Pier 1 Imports will place Dollar Tree in the 10,800-square-foot end unit by year-end. “This follows the trend of numerous mid-box retailers struggling in a challenging retail environment that was significantly compounded by COVID-19,” says LandQwest Senior Associate Bob Pekol. “Dollar stores and other value-retailers were far less affected by internet competition and economic downturns.” Pier 1 permanently closed its doors in September. The newly available, well-located spaces are now sought after by the next generation of junior anchor tenants, particularly in retail-booming regions. The Summerlin Dollar Tree adds to an already expanding intersection at Pine Ridge Road, where a newly constructed ALDI and developing ABC Liquor, Heartland Dental and more are coming soon. Pekol continues to represent the landlord, BR of Wisconsin 43 LLC. Paige Eber of Katz & Associates represented Dollar Tree.

 

Marquesa Capital Partners continues to energize the Alico corridor through its $2.24 million, 16-acre acquisition of The Commons at Esplanade. The southwest corner of Alico Road and Esplanade Boulevard will soon welcome Southwest’s Florida exploratory “Build-To-Rent” (BTR) with up to 140 units. “Build-to-Rent is an entire community of single-family residences and/or villas in a highly-amenitized, rentable community,” said LandQwest Senior Associate Brett Low. “They essentially offer all the perks of a professionally managed, home-owned, community, but without the burden of a mortgage, association dues, or ownership expenses.” Low represented the seller, Alico East Fund, LLC. This leaves just three outparcels at The Commons at Esplanade, where entitled uses span across hospitality, medical/dental, health/fitness, restaurant, and retail. For details, click here.

 

The southeast corner of Alico Road and Esplanade Boulevard in Fort Myers will be home to a new 7-Eleven convenience store with a car wash, supplying fuel and sundries to the emerging submarket, said LandQwest Senior Associate Brett Low. Sered 64 Alico LLC’s $2 million acquisition of 2.68 acres at The Commons at Esplanade is Low’s fourth closed convenience transaction with another scheduled for the first quarter of 2021. Low represented both the buyer and seller, Alico West Fund LLC. The purchase of the two adjacent parcels leaves just three outparcels at Esplanade, where entitled uses include hospitality, medical/dental, health/fitness, restaurant and retail. Click here for information on the remaining pad sites.

 

Demolition work continues on The Plaza on Third Street, a decades-old shopping center that had been mostly vacant for many years in downtown Naples. Honc Destruction has been working this month leveling the old plaza’s buildings between the Sea Salt restaurant on Third Street South and the Olde Naples Building on the corner of Broad Avenue and Third. Old Naples Hotel, a boutique hotel with more than 100 rooms and some ground-floor retail, still is planned for that space. “We continue to make significant progress but, due to complications arising out of COVID-19, do not expect to begin construction as soon as demolition is complete,” according to a statement on OldNaplesHotel.com. “In the meantime, the 2-plus acres of land will be sodded as green space and fenced for safety. We look forward to making an announcement about the commencement of construction in the near future.”

 

Alegian Group Inc. has purchased the 9,015-square-foot retail strip center at 447 Cape Coral Pkwy. E., Cape Coral, from Joel R. Shapiro Enterprises Inc. for $999,500. Tenants in the building include Apollo Pharmacy, Avanti Salon & Day Spa, and the Nail Club. The center is located in the downtown Cape Coral District. Gary Tasman, CEO and principal broker, and Shawn Stoneburner, senior director and broker of Cushman and Wakefield | Commercial Property Southwest Florida LLC, handled the seller and buyer in negotiating the transaction.

 

The fourth location of Tacos & Tequila Cantina is targeted to launch next year in The Pointe at Founders Square, under construction on the southeast corner of Immokalee Road and Collier Boulevard. The local Tex-Mex restaurant will have a 4,600-square-foot corner unit between South Street City Oven and Grill and Skillets at The Pointe, a 36,000-square-foot cluster of restaurants and retail shops at one of the busiest intersections in the Naples area. Since the first Tacos & Tequila started in August 2013 in East Naples, additional locations of T&T launched in July 2016 in North Naples and in May 2018 at University Village near Florida Gulf Coast University. Last year, T&T founders Kelly and Aldo Musico teamed up with the Hoffmann Family Of Companies and renowned restaurateur Paul Fleming to continue growing the restaurant concept.

 

MK Architecture has been awarded the architectural design services for the first phase of the new Parker Commons Office Buildings, located on the Daniels Road frontage at Parker Commons Office Park. The project will consist of two 7,300-square-foot, one-story office buildings and one 22,200-square-foot, two-story office building. This speculative office building development is indicative of the growing demand for office space in Lee County. The project is being developed by Parker Crossings LLC, and is expected to be complete during 2021. MK Architecture specializes in office, hospitality, commercial and multi-family architecture with offices in Fort Myers, Naples, and Lexington, Kentucky.

PBS Contractors has welcomed Martin Cala to the team. Cala started his own construction company at age 20 and brings many years of project management and business experience. He will be responsible for project planning, coordination, and financial controls. Cala will keep clients informed of project updates and progress as a liaison. Cala graduated from Florida Gulf Coast University with his Bachelor of Engineering degree in civil engineering. Cala is licensed on the Florida Board of Professional Engineers.

 

Clive Daniel Home (CDH) welcomes the return of Fern Schmidt as director of real estate relations for its Naples showroom. A 24-year real estate industry veteran with 14 years in Collier County, Schmidt leads the company’s Realtor Benefit Program and Stage Right Staging, assisting realtors who have a high-end listing with CDH staging services. Fern was assistant manager of real estate relations at Clive Daniel’s Naples location for five years before heading to Norris Furniture as director of business development for four showrooms. In her current role, she works with the director of business development to foster relationships with area builders, hospitality properties and commercial businesses that will benefit from design renovations and improvements. She also works with the Collier Building Industry Association (CBIA), the Naples Area Board of Realtors and the Women’s Council of Realtors.

For 23 consecutive years, the Collier Building Industry Association’s (CBIA) Sales & Marketing Council (SMC) has given back to the community with an annual toy drive. This year, the organization is hosting a “Backpacks Full of Joy” Drive. Organizations are invited to make monetary contributions by Nov. 30 in the form of checks payable to CBIF with “Joy Drive” in the memo line, according to Joy Drive Chairperson Kaleigh Grover. Each $25 donation will purchase a backpack for a child in need. Recipients of this year’s “Joy Drive” will be Pinecrest Elementary School and Shadowlawn Elementary School students. For additional information about sponsorship, volunteer, and donation opportunities, email nancy@cbia.net, visit cbia.net/news/2toy-drive/ or call 239-436-6100.

 

Royal Shell Real Estate recognizes its Top Producers for October 2020. In the Sanibel/Captiva Office, the Top Listing Producers Team is McMurray & Members; Top Listings Producer Individual/Partners is Andre Arensman; Top Sales Producers Team is McMurray & Members; and Top Sales Producers Individual/Partners is Trevor Nette. In the Fort Myers Office, the Top Listing Producers Team is The Ricca/Mulino Team; Top Listings Producer Individual/Partners is Cindy Roberts; Top Sales Producers Team is Home Pros of SWFL; and Top Sales Producers Individual/Partners is Tina Tusack. In the Cape Coral Office, the Top Listing Producers Team is The Koffman Group; Top Listings Producer Individual/Partners is Marc Wozny; Top Sales Producers Team is The Jim Peterson Team; and Top Sales Producers Individual/Partners is Joe Francis. In the Bonita Springs Office, the Top Listing Producers Team is The Mathers/Wells Team; the Top Listings Producer Individual/Partners, Patty Vahle; the Top Sales Producers Team is The Robin Bennett Team; and Top Sales Producers Individual/Partners is Patty Vahle. In the Naples – Park Shore Office, the Top Listing Producers Team is The Smuk-Ekovich Team; the Top Listings Producer Individual/Partners is Kimberly Alvord; Top Sales Producers Team is The Roboci Team; and the Top Sales Producers Individual/Partners is Kathy Mahoney. In the Naples – Fifth Ave. Office, the Top Listing Producers Team is The Epifanio Team; Top Listings Producer Individual/Partners is Liz Appling; Top Sales Producers Team is The Epifanio Team; and Top Sales Producers Individual/Partners is Ralph Galietti.