DEERFIELD BEACH, Fla. , Jan. 31, 2023 /PRNewswire/ — Deerfield Beach-based Konover South LLC is pleased to announce that it has 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.
In making the announcement, Jeffrey Williams, Executive Vice President of Development and Construction of the Deerfield Beach, Fla.-based company, said “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.”
Williams added, “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.”
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. 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.
Construction is expected to begin in mid-2023.
About Konover South LLC
At the helm as CEO of Konover South since 2010, David Coppa has transformed the venerable 62-year-old family business into a recognized leader in retail infill ground-up centers primarily in Florida’s core markets. Coppa is now in his 20th year in the family business begun by the legendary Simon Konover in 1957. Built on a legacy of family tradition spanning three generations, Konover South continues the successful track record of The Simon Konover Organization, an industry-leading real estate company since 1957. Konover South is a fully integrated acquisition, development and management company operating throughout the southeastern United States. Led by David Coppa, CEO, Konover South, LLC, is headquartered at 431 Fairway Drive, Deerfield Beach, Fla.
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SOURCE Konover South