- December 13, 2025
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Midwest investor pays $4.5 million for retail center
A Cincinnati investor has bought Merchants Plaza in Cape Coral. Lee County public records show the center sold for $4.5 million. It was previously owned Jeri-Lin Corp., which paid $2.3 million for it in 2003. The 15,098-square-foot center is at 155-159 Hancock Bridge Parkway just east of Santa Barbara Boulevard. It sits on a 1.2-acre parcel and is fully leased with a tenant roster that includes Tires Plus, PI Pizza, Tobacco Shop, Lee Nails, Floral Designs, Palm Tree Massage and Cape Palace Arcade. According to CrownPoint Partners, which brokered the sale, the center was refurbished two years ago and has a new roof, upgraded HVAC systems, LED lighting, a new pylon sign and improved exterior finishes. The firm says financing was arranged by Trinity Capital Corp. Julius Swolsky and Shannon Bona of CrownPoint represented the buyer and Matthews Real Estate Investment Services represented the seller. Niko Buntich arranged the financing for Trinity. The property was originally listed for $4.9 million.
Daycare chain continues to expand in region
The Learning Experience has signed a lease for a 10,000-square-foot built-to-suit building on 1.25-acres in Fort Myers. The property is on Ortiz Avenue right off Hanson Street. Terms of the lease were not disclosed. The Learning Experience is a Deerfield Beach chain of franchised daycare centers with more than 420 locations in 31 states and three in the U.K. It has 14 centers in the region and four more in the works, according to its website. (The Ortiz Avenue location does not yet appear on the website.) It also has one available location in Estero at 19950 S. Tamiami Trail. According to the Learning Center’s website, the company is offering franchisees training, will make third-party financing available and will deliver a turnkey, ready-to-open business at the Estero site. LSI’s Eric Edwards and Drew Davis represented the landlord in the transaction. The Learning Experience was represented by Nick Vanella of the ComRealty Group. LSI also announced two sales. A 4,280-square-foot office building at 1510 Royal Palm Square Blvd. in Fort Myers sold for $854,900 to a pair of local LLCs. Laura Cari brokered the deal. And a 4,500-square-foot commercial property at 5264 Clayton Court sold to Clayton Court Co., an LLC, for $820,000. Drew Davis brokered that deal.
Hotel near air base sells for $10.5 million
The Sleep Inn & Suites in Tampa has sold. The hotel is at 6231 S. Dale Mabry Highway between Gandy Boulevard and MacDill Airforce Base. Cushman & Wakefield Hospitality Team says the 77-room hotel sold for $10.5 million. The firm did not disclose the buyer and Hillsborough County records have not been updated. The hotel was previously owned by a Pinellas County LLC that paid $7.25 million in 2021. The four-story hotel was built in 2019. Cushman & Wakefield’s David Greenberg, Ely Silverstein, Gabriel Shamay, Chris Passeggiata and Jesse Lastofsky brokered the deal. This is the second time the team has sold the property since it was developed.
Luxury brokerage to list condos in major waterfront development
BTI Partners, the developers behind the luxury residential development Marina Pointe in Tampa, have signed Premier Sotheby’s International Realty to represent the property. The firm takes over as the first tower has sold out and contracts are being accepted on the second. The 157-unit Tower Two features condominiums ranging from 1,100 square feet to 3,500 square feet and priced from $1 million to more than $5 million. The waterfront Marina Pointe is a part of the Westshore Marina District, a 52-acre mixed-use community just off the Gandy Bridge. It is anchored by Marina Pointe and a 70,000-square-foot retail center. BTI, the Fort Lauderdale developer, sold the retail center in 2023 for $13 million. The development also includes a private 150-slip full-service marina on a 13-acre water basin. According to BTI, Premier Sotheby’s will help attract high-net-worth buyers both locally and globally and brings with it in-house marketing, branding and sales resources. The developer previously handled sales internally.
Beachfront resort damaged during Helene sold
The Sandalwood Beach Resort on North Redington Beach has sold and will be redeveloped. The beachfront property, heavily damaged during Hurricane Helene last year, was bought by a local real estate broker and a developer. Jeff Beggins of Century 21 and Bill Karns paid $6 million for the property. The Sandalwood is one of those old-style Florida beachfront properties slowly vanishing as hurricanes take their toll and updated building standards take hold. The three-story resort was built in 1959 and has 47 units. The pair plan to demolish and redevelop the resort at 17100 Gulf Blvd. Beggins says in an email the plan is to build a “beautiful boutique upscale luxury resort” with the same number of units but each with beach and gulf views. A select number of units will be for sale and the plan is for the rebuilt resort, he says, is to have a “one of a kind” restaurant and bar and amenities.
228 townhouses coming to 43-acre parcel
A national homebuilder has bought a 42.8-acre parcel in Pasco County’s Hudson. The land is 18302 U.S. Highway 19, north of State Road 52. The buyer, Meritage Homes, paid $3 million. According to Eshenbaugh Land Co., which brokered the deal, Meritage plans to build a 228-unit townhouse community on the site. Meritage was founded in 1985 and has built communities in 11 states, mostly in the western and southern U.S. In Florida, it has developments in Orlando, Jacksonville, South Florida and the Palm Coast. Locally, it has 24 communities from Pasco through Babcock Ranch. Eshenbaugh’s Tyler Woody represented the seller, which he described as a Pasco investor and business operator.
Medical office building to be built off Interstate 75
Construction is set to officially begin on a new Venice medical office building later July 24. The project is the three-story, 13,857-square-foot Venice Medical Suites at 2990 Executive Drive, just off of Interstate 75 and Jacaranda Boulevard. The office building is being developed by Stanley Dean, an 86-year-old Venice businessman and insurance agent. Dean paid $840,500 for the property in 2008. When complete, it will have suites available from 1,620 square feet to a full floor, 4,619 square feet. Loyd Robbins of the Sarasota commercial real estate firm Loyd Robbins & Co. is the leasing agent.
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