Regional Shopping Centers

Gulf Coast Town Center, Fort Myers, FL

1.65 million SF, 202 acres, $225M project cost

Key Responsibilities: Joint Venture negotiations, financial analysis, pro forma responsibilities, site plan design, and tenant coordination.

Project Summary:  After six years in the predevelopment phase and securing DRI entitlements for nearly 1.7M square feet, a joint venture was structured between CBL & Associates Properties and the Richard E. Jacobs Group for CBL to become the managing partner, redesign, lease, construct, and manage the proposed development in a phased combination of power center, open air lifestyle, restaurant, entertainment, and hotel components.

Results:   Opened in phases, with the initial power center opening in 2005, and the lifestyle section opening in 2007, there are more than 17 anchors, 2 hotels, and dozens of restaurants and specialty shops in a tropical streetscape village setting.

A major draw to the shopping center is southwest Florida’s first Ron Jon’s Surf Shop and Bass Pro Shops. The Bass Pro Shops building is 130,000 square feet and overlooks a 24-acre lake where customers can test-drive boats, fishing gear and outdoor recreational equipment.

Key Tenants:   Bass Pro Shops, Belk, JC Penney, SuperTarget, Costco, Best Buy, Borders, Ron Jon Surf Shop, Marshall’s, Ross Dress for Less, Regal Theatres, Dick’s Sporting Goods, LA Fitness, Charlotte Russe, Zumiez, Golf Galaxy, Journeys, Babies R Us, Bath and Body Works, Strasburg Children, and Justice along with a Marriott Residence Inn and Marriott Courtyard Hotel.

Gulf Coast Town Center’s restaurants include both casual and upscale dining experiences such as P.F. Chang’s, Carrabba’s, Outback, Blu Sushi, R.J. Gators, Miller’s Ale House, Bar Louie, Calistoga Cafe, and Village Tavern. This PF Chang’s restaurant had the highest sales volume of all PF Chang’s restaurants in December 2007.