Thompson Thrift Sells Two Fully Leased Multi-Tenant Retail Buildings in Southwest Florida

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Sep 27, 2023, 14:53 ET

An additional multi-tenant building and a commercial pad are also available for sale

CAPE CORAL, Fla., Sept. 27, 2023 /PRNewswire/ -- 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.

Thompson Thrift is a full-service real estate development company focused on ground-up commercial and multifamily development across the Midwest, Southeast and Southwest. Since its founding more than 30 years ago, Thompson Thrift has invested more than $4 billion in real estate developments in 21 states. The company and its leaders are frequent recipients of distinctions and awards conferred by regional and national organizations that reflect the company's ongoing commitment to creating environments of excellence in both the community and the workplace.

About Thompson Thrift Real Estate Company
Thompson Thrift is an integrated full-service real estate company with offices in Indianapolis and Terre Haute, Indiana; Denver; Houston and Phoenix. Three business units drive Thompson Thrift's success—Thompson Thrift Residential which is focused on upscale Class A multifamily communities and luxury leased homes, Thompson Thrift Commercial which is focused on ground-up commercial development, and Thompson Thrift Construction, a full-service construction company. Through these business units, Thompson Thrift is engaged in all aspects of development, construction, leasing, and management of quality commercial real estate projects across the country. The company earned national recognition as a winner of a 2023 Top Workplaces USA award, the latest accolade that reflects the company's ongoing commitment to excellence in the community and workplace. For more information, please visit www.thompsonthrift.com

Contact:
Jennifer Franklin
Spotlight Marketing Communications
949.427.1385
[email protected]

SOURCE Thompson Thrift