Residential real estate brokerage expands

SANIBEL — Residential real estate brokerage Royal Shell Real Estate acquired a two-story office building in downtown Cape Coral, where it plans to open its 16th office in Southwest Florida.

Royal Shell plans to renovate and house as many as 40 real estate agents and six people to support them starting in the fall.

In a statement, the company says the reemergence of luxury buyers in Cape Coral prompted the expansion. In particular, Royal Shell noted that real estate values have risen nearly 8% so far this year.