Fort Myers-Area Shopping Center Lands $23M in Financing
- Apr 11, 2017
Metropolis Capital Advisors recently secured a $23.4 million construction loan on behalf of SJ Collins Enterprises for the development of Daniels Marketplace, a 107,000-square-foot shopping center located in Fort Myers, Fla. Cliff Mendelson, CEO & managing director and Albert Missirlian, managing director of Metropolis arranged the transaction.
Daniels Marketplace will be located at the northwest intersection of Daniel Parkway and Ben C. Pratt/Six Mile Cypress Parkway in south Fort Myers. The construction is expected to commence this spring and the shopping center will open its doors in summer 2018. The property will feature high-end architecture, open space, native landscaping and a walkable, lifestyle environment, ensuring community members have the option of walking or biking to the retail hub.
The asset will offer approximately 690 parking spaces. In the area, there are 143,787 people with an average household income of $71,350 and a projected annual growth rate of 3.7%.
The property is anchored by Whole Foods, the 45,000-square-foot store being Whole Foods’ first location in Fort Myers. The tenant roster also includes Panera Bread, Zoe’s Kitchen, Banfield Pet Hospital, Felix Andrews Salon — an Aveda salon, KeKe’s Breakfast Café, Mellow Mushroom Pizza Bakers, Pet- People, and Venetian Nail Spa. John Mounce and Jessica McEvoy of Florida-based LandQwest Commercial are handling the leasing services.
Metropolis’ finance team previously closed two other construction financings on behalf of SJ Collins Enterprises for the development of Fifth Street Station, a Wegman’s grocery-anchored shopping center located in Charlottesville, Va. and for the construction of The Marketplace at Tech Center, a 230,000 square foot Whole Foods anchored shopping center located in Newport News, Va.
Image courtesy of LandQwest Commercial