Private Investor Acquires Cape Coral Property From Unknown Personal Trust For $14.3M

The property involved in this transaction is Towers I and Towers II, a retail asset located at 2612-2708 Santa Barbara Blvd., Cape Coral. The property has a total square footage of 72,453 and was sold for $14,300,000. At the time of the sale, the property was 89 percent leased to tenants, which include Five Guys Burgers & Fries, Firehouse Subs, Sylvan Learning of Cape Coral, Anytime Fitness, Sumaq Peruvian Cuisine Bar & Grill, and Tony’s Jewelry.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $14,300,000.00
• Address: 2612 Santa Barbara BLVD, Cape Coral
• Market: Cape Coral
• Buyer: Private Investor
• Seller: Unknown Personal Trust
• Buyer's Rep: James Garner (Marcus & Millichap), Jim Shiebler (Marcus & Millichap)
• Seller's Rep: James Medefind (Marcus & Millichap)
• Square Footage: 72,453
• Occupancy Rate at Sale: 89%

The transaction featured representatives from Marcus & Millichap, with Jim Shiebler, James Garner, and James Medefind facilitating the deal on behalf of the buyer and seller. Details such as the buyer being a private investor and the seller being an unknown personal trust were noted as part of the transaction framework.