A Phoenix real estate investment firm has purchased the Coral Walk Shops development in Cape Coral for $27 million, according to the Lee County Property Appraiser’s office.

The shopping center, which is anchored by SuperTarget, is at 1760-1910 NE Pine Island Road. Besides the existing retail buildings, the size of which were not indicated, the deal involved more than 15 acres.

The buyer was Cole Companies. Cole-affiliated entities own or manage approximately $3.2 billion of real estate assets and approximately 18.1 million total square feet, according to its Web site.

The seller was North American Properties.