SRS’ Investment Properties Group (IPG) exclusively marketed and brokered the sale of Shops at Surfside located in Cape Coral, Fla., one of the fastest-growing cities in the country. The 180,418 square foot community center, built in 2007, is situated on 19.33 acres of land. Shops at Surfside is characterized by a synergistic blend of retail providers. It is roughly 80 percent occupied by anchor tenant Belk along with national tenants including Dollar Tree, Anytime Fitness, Starbucks, Gamestop, Hair Cuttery, H&R Block, and Better Homes & Gardens Metro Brokers. The property is located at 2354 Surfside Boulevard, at the signalized intersection of Veterans Memorial Parkway and Surfside Boulevard. The seller, Dodge Cape Coral, LLC, sold the property on May 28, 2019 for $13.625 million to T Surfside FL, LLC.
“Shops at Surfside presented a rare chance to acquire a value-add retail asset in a high-growth, southwest Florida market,” said Kyle Stonis, managing principal, Investment Properties Group. “The buyer is excited about the recent leasing momentum at the Property along with the multilayered upside opportunity going forward.”
Kevin Yaryan, senior vice president, of SRS’ Investment Properties Group in the Orlando office, along with Kyle Stonis, managing principal, and Pierce Mayson, principal, of the Investment Properties Group in the SRS Atlanta office, and Steve Miskew, managing principal, of the Investment Properties Group in the SRS Fort Lauderdale office, represented the seller in the transaction. The buyer was self-represented in this transaction.
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 25 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services and investment services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit srsre.com.