Naples, Fort Myers and Charlotte
A 412-unit Cape Coral apartment complex is nearly complete. Shoreham Capital, along with Bridge Investment Group and Wynkoop Financial, bought the 26-acre property at Tierra De Paz Loop in 2022 for $11.5 million. Construction started in 2023. So far, a two-story clubhouse and four apartment buildings are complete. The remaining five apartment buildings are scheduled to be ready by April. A Shoreham spokesperson says move-in dates haven’t been set but leasing has begun. The low-rise community near Pine Island Road will be named Siesta Lakes. It will include one-, two- and three-bedroom units. The amenities will be fairly standard with a gym, pool and business center. West Palm Beach-based Shoreham is real estate investment firm which, according to its website, specializes in ground-up rental developments, adaptive reuse and single-family rentals and build-to-rent communities. Its other local projects include Juniper Point, a townhouse community in Naples, and The Preserve at Poinciana, a single-family home rental community in Polk County.
A Tractor Supply Co. store in Naples listed for sale in September is back on the market. The store is at Wilson and Golden Gate Boulevards and scheduled to open March 22. The sale price for the 23,279-square-foot building on 6.6-acres is $12.08 million. The property initially went on the market last year with Shannon Bona and Julius Swolsky as the listing agents for Graystone Capital Advisors. But a lot has changed in the meantime. Chief among those changes is Bona and Swolsky co-founded a new firm, Crown Point Partners, in February along with Don Bingham III. Another change was the store’s opening was pushed back. Bona, one of three managing partners at the new firm, says when the store was first on the market a portfolio buyer “was circling,” but a deal didn’t pan out so the decision was made to take the listing down and relist it closer to when the store would actually open. Tractor Supply is a national chain that sells farm supplies, pet and animal feed and supplies, clothing, tools and fencing. It currently operates about 2,200 stores nationwide. There is a 15-year lease on the property that includes 5% increases every five years and four five-year extensions.
Tampa, St. Petersburg, Pasco and Polk…