HFF closes sale of Mercato mixed-use retail lifestyle center in Naples, Florida
MIAMI, FL – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Mercato, a 456,359-square-foot, mixed-use retail lifestyle center in Naples, Florida.
HFF marketed the property on behalf of the seller, a partnership between Madison Marquette, Barron Collier Companies and The Lutgert Companies.
Mercato is an upscale, pedestrian-friendly, mixed-use lifestyle center with 321,119 square feet of retail and 135,240 square feet of Class A office space. Built between 2007 and 2009, the project is comprised of 14 open-air buildings and 2,103 parking spaces with room for future development. Mercato is the sole southwest Florida location of Whole Foods, the 12-screen Silverspot Cinema and Nordstrom Rack, which anchor the center. The center houses its national anchors in addition to other national and regional retailers including Sur La Table, Jos. A Bank, Tommy Bahama, Z-Gallerie, Sperry and Ulta Salon, and more than 17 restaurants, including The Capital Grille, McCormick & Schmick’s, Chipotle and Bravo! Cucina Italiana. Free musical concerts, movies on the lawn, festivals and special events fill Mercato’s event schedule. Situated on 41.65 acres at 9115 Strada Place in the heart of north Naples, the center is at the intersection of Tamiami Trail (U.S. 41) and Vanderbilt Beach Road.
The HFF team representing the seller was led by senior managing director Daniel Finkle, executive managing director Manuel De Zárraga, managing director Luis Castillo and director analyst Kim Flores.
About Madison Marquette
Madison Marquette is a premier real estate property management, leasing, marketing and development firm specializing in mixed-use, urban street and infill, community and specialty/entertainment retail properties in top tier markets across the United States.
About Barron Collier Companies
Barron Collier Companies (BCC), which traces its roots to County Founder Barron Gift Collier, today is one of the largest diversified companies in Southwest Florida. In addition to the responsible development, management and stewardship of numerous land holdings nationwide, BCC counts among its business ventures extensive agricultural operations (primarily citrus groves and vegetable farming), commercial, retail and residential real estate development and oil exploration and mineral management. Learn more at barroncollier.com.
About The Lutgert Companies
A prominent member of southwest Florida’s business community since 1964, The Lutgert Companies has set the standard for creative, environmentally responsible development. The company’s portfolio includes an array of residential and commercial properties, each bearing the original trademarks of its commitment to excellence. More than 25 of the company’s distinctive high-rise luxury towers line the landscapes of Naples and Bonita Springs, in addition to its exclusive golf community, Estuary at Grey Oaks, and Linville Ridge, a master planned mountaintop golf community in North Carolina. Additional holdings include Lutgert Insurance, Premier Sotheby’s International Realty®, Premier Commercial, Lutgert Title LLC and Lutgert Construction. For more information, please visit www.lutgert.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.