(Carl Cronan is editor of Real Estate Florida.)
FORT MYERS, FL-Local residents and visitors to two popular beach islands are getting new shopping choices by way of a new 252,620-sf shopping center. The Desco Group plans to open The Plaza at Island Pass in late July with Super Target serving as the center's anchor.
The $55-million project at San Carlos Boulevard and Kelly Road is expected to become a popular destination for residents of surrounding upscale communities as well as vacationers heading to Sanibel and Captiva Islands. The 34-acre site is bordered by Summerlin Road and McGregor Boulevard, two main roads leading to the Sanibel Causeway Bridge connecting the islands to the mainland.
"This location should capture quite a bit of leisure and tourist traffic as the last stop before hitting the beach," Tim McCormick, local leasing director with St. Louis-based Desco, tells GlobeSt.com. He adds that the center should appeal to the heightened selectivity of retailers despite the housing downturn that has slowed the retail market.
Average household income within the center's three-mile radius is $74,000, while the area's population is expected to reach nearly 36,000 by 2010, according to a Desco press release. Spaces are being built for up to 15 shops and restaurants in addition to Super Target, which occupies 177,394 sf.Leases have already been signed with Hair Cuttery, ProFiles Day Spa and Island Tan, with several other deals pending totaling 14,000 sf, McCormick says. The Plaza has four retail buildings and four outlots, with junior anchor spaces available up to 25,000 sf.
Hodges Associates of Dallas, TX, designed the shopping center, which features building exteriors clad in a mix of earth-tone brick and stucco accented by black, champagne and red metal awnings. Naples-based Gates Builders Inc. is the contractor on the project.
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