Pinellas investor buys Cape Coral shopping center for $12M

The Shops at Surfside, a Cape Coral shopping center, has been sold to a Pinellas County real estate developer.

The center at 2354 Surfside Blvd. was bought for $12.3 million by Trifon Houvardas, the owner and broker of Foresight Property Services in Oldsmar.

(It was not immediately clear Monday if Houvardas bought the property as an individual or in his role at Foresight.)

The Shops at Surfside, according to a listing on LoopNet, is 117,556 square feet and sits on 8.26 acres just off the Veterans Memorial Parkway. The listing says it is fully occupied.

Lee County property records show the previous owner is a Naples-based LLC that paid $7 million for the center in 2021.

Matthews, the Nashville commercial real estate firm that represented Houvardas and announced the sale, says in a statement that the center is anchored by Belk and Anytime Fitness along with “a diverse roster” of tenants. That roster, according the center’s website, includes the eateries Torched Bar & Grill, Ginger Bistro Cape Coral and Keg & Cow.

The firm says the Houvardas was attracted to center’s cash flow and potential, “viewing the acquisition as an opportunity to place capital in a well-located retail asset with opportunities to enhance future returns.”

Foresight is a 35-year-old full-service commercial real estate firm that has developed and manages a portfolio valued at more than $60 million and includes office and retail properties, according to its website. The site says the firm currently manages about 250 tenants taking 320,000 square feet of space.

Matthews agent Daniel Gonzalez represented Houvardas in the deal.