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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.
“We've been serving the Lee County market for a long time because it is a great place to do business,” says Michael Polly, vice president of real estate operations with Royal Shell, in a statement.
Sanibel-based Royal Shell says it had $500 million in sales transactions in the first five months of 2015. The company has offices in Bonita Springs, Fort Myers and Naples. It also has an office in central Florida and four in North Carolina.
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