The Forum at Fort Myers Shopping Center, Fort Myers, FL
325,000 SF on 46 acres
Key Responsibilities: Anchor tenant marketing/leasing/sales negotiations, site plan design, pro forma responsibilities.
Project Summary: Part of a joint venture between Miami Heat’s Patrick Riley and North American Properties, this power center was initially designed to have significantly greater square footage and include a lifestyle component. The largest physical challenge, a 25+ acres lake dug by FDOT when constructing the I-75 on-ramps, combined with exorbitant fill costs, caused the partnership to re-evaluate initial predevelopment designs and ultimately design build a turnkey power center based on anchor tenant demand.
Results: The Forum at Fort Myers, a 325,000 Target anchored development, was part of a 706 acre development of regional impact (DRI) which includes more than 1,400 residential units, 500 hotel rooms, 800,000 sq. ft. of office entitlements, and more than 1 million sq. ft of entertainment and retail entitlements.
Key Tenants: Target, Home Depot, Best Buy, Bed Bath & Beyond, Staples, Ross Dress for Less, Books-a-Million, Petco, Rack Room Shoes, and SunTrust.
For more information, click here to download the Forum at Fort Myers flyer (PDF).
Northpoint Shopping Center, Cape Coral, FL
125,000 SF on 16 acres
Key Responsibilities: Anchor tenant marketing/leasing/sales negotiations, site plan design, pro forma responsibilities.
Project Summary: Delivered in spring 2008, the phrase, “timing is everything” couldn’t be more appropriate for this center. What should have been a relatively hurdle free development, was caught in mist of the 2008 economic downturn and bankruptcy for 2 of the 4 junior anchors. Although the long term outlook for this project is positive, releasing and redeveloping modified prototypes for new junior anchors was not in the game plan.
Results: Located directly across the street from a new SuperTarget anchored center and adjacent to a BJ’s Wholesale Club, this center was designed to have 4 junior anchors, 2 out parcels, and a relatively small amount of local shop space.
Key Tenants: PetSmart, Circuit City, Linens N Things, A.C. Moore, Ruby Tuesday’s, and Bed Bath & Beyond to replace the recaptured Linens space after Linens filed for bankruptcy.
Hammock Landing, West Melbourne/Palm Bay, FL
750,000 SF, 108 acres, $75M project cost
Key Responsibilities: Site selection, Joint Venture negotiations, financial analysis, pro forma responsibilities, and site plan design.
Project Summary: Part of a joint venture between CBL and The Benchmark Group, this DRI was initially designed as a power center with an open air lifestyle component and numerous out parcels. Initial tenant openings should be in 2009.
Key Tenants: Target, Kohl’s, HH Gregg, Marshalls, Michaels, Toys r Us, Babies r Us, and Hampton Inn & Suites hotel.
