- March 27, 2024
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FORT MYERS — Pine Island Marketplace, a 71,444-square-foot shopping center in Cape Coral, sold for $7 million last week. Land Holding LLC sold the property to Schottenstein Property Group Inc., and LandQwest Commercial brokered the deal.
Located at 501-541 S.W. Pine Island Road, Pine Island Marketplace contains a variety of retail stores, including Office Max, Dress Barn and Famous Footwear. The center is anchored by a Walmart and a Kohl's, but neither of those businesses is part of the sale. At the time of sale, the center was 86% leased.
Schottenstien Property Group Inc. is based in Columbus, Ohio. The company owns an interest in more than 156 properties in 27 states.