AEW Capital Management Acquired the Newly Constructed Daniels Marketplace from S.J. Collins Enterprises
FORT MYERS, FL, July 17, 2019 – Cushman & Wakefield has negotiated the sale of Daniels Marketplace, a newly constructed, Class A retail destination in Fort Myers. The 106,739-square-foot shopping center is 100% leased with Amazon-owned Whole Foods Market as its anchor tenant.
A Cushman & Wakefield Team comprised of Managing Director Fain Hicks, Vice Chairman Mark Gilbert, Associate Lane Breedlove, Executive Director Adam Feinstein and Director Mitchell Halpern represented Atlanta-based developer S.J. Collins Enterprises in the disposition. The Equity, Debt and Structured Finance team of Mike Ryan, Brian Linnihan and Richard Henry helped secure financing on behalf of the buyer, AEW Capital Management, a global real estate investment firm.
At 6891 Daniels Parkway, Daniels Marketplace is favorably positioned at the high traffic intersection of Daniels Parkway and Six Mile Cypress Parkway, which sees 90,000 vehicles per day. In addition to its high visibility, the property is positioned to benefit from a rapidly expanding residential population. The population within a 5-mile radius is projected to expand by 11% over the next five years.
In addition to Whole Foods, Daniels Marketplace is occupied by a diverse mix of eCommerce-resistant tenants, including a salon, dentist, Pilates gym, dry cleaner, pet hospital and several fast-casual restaurants such as Mellow Mushroom and Panera Bread. The site also offers a significant future development opportunity.
“Daniels Marketplace provided a best-in-class investment opportunity featuring a desirable tenant mix serving a high-growth, expanding trade area,” said Gilbert. “The opportunity for additional development also provides potential upside for the new owner.”
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
Communications Specialist, Florida