ATLANTA (May 4, 2021) – SRS’ Investment Properties Group exclusively marketed and brokered the sale of Shops at Surfside Center, a five-tenant community center located in Cape Coral, Fla., one of the fastest-growing cities in the country. The center is positioned at 2342/2354 Surfside Boulevard, at the signalized intersection of Veterans Memorial Parkway and Surfside Boulevard, with 31,000 vehicles per day. Shops at Surfside Center is situated on 8.26 acres of land and consists of 117,566 square feet. Built in 2007, the center is marked by high quality, contemporary construction, and retail aesthetic. Shops at Surfside Center was designed by top architecture firm, Cuhaci & Peterson, and built by Hawkins Construction. The center is currently 100% occupied. The tenant roster includes national retailers Belk, Anytime Fitness, SalonPlex, and Humana. The seller, a private service entity, sold the property on April 12, 2021 for $7 million to Patagonian Holdings, LLC. In 2019, the SRS IPG team marketed and sold the center on behalf of the previous owner.
“In what has become a growing trend, especially in regard to our retail assets in southern Florida; we had abundant interest in Shops at Surfside Center, from private investors,” said Pierce Mayson, managing principal of SRS’ Investment Properties Group. “In the midst of a sometimes-challenging debt market, we were able to secure a strong, all-cash buyer which simplified the process and led to an expeditious transaction.”
Kevin Yaryan, senior vice president, of SRS’ Investment Properties Group in the Orlando office, along with Kyle Stonis, managing principal, and Pierce Mayson, managing principal, of the Investment Properties Group in the SRS Atlanta office, represented the seller in the transaction. The buyer was self-represented in the 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.