Konover South LLC, a Deerfield Beach company, completed the purchase of 9.6 acres known as The Marketplace of Coconut Point located in Estero, Florida.
Konover South purchased the property from CP Land Investments, LLC for $5,500,000 in an all-cash deal.
With close to 50,000 SF, it will include a quick-serve restaurant with a drive thru, a full-service sit-down restaurant, a high-end coffee shop with a drive thru, and additional space over three retail buildings designed for the everyday use of all residents and convenient use by residents by Coconut Point.
“We couldn’t be more excited than we are to have a fully approved Development Order and to be closing on this fantastic piece of property,” said Jeffrey Williams, Executive Vice President of Development and Construction of the Deerfield Beach, Florida-based company.
The Marketplace of Coconut Point sits on US-41 between Via Rapallo and Sweetwater Ranch Boulevard within Coconut Point. The new development is the last remaining commercial frontage within the Coconut Point development.
“Through years of hard work and partnership with Oakbrook Properties, the Village of Estero and the North Village Association, we achieved a development plan that contained no variances, deviations, or requests for additional allowable uses or greater densities,” Williams added.
Construction is expected to begin in mid-2023.
