GBT Unveils Tenant Roster, Plans for Shopping Center Redevelopment in Port Charlotte, Florida

PORT CHARLOTTE, FLA. — GBT Realty Corp. has unveiled the tenant lineup and renovation plans for Port Charlotte Marketplace, a shopping center redevelopment project in Port Charlotte, roughly 40 miles south of Sarasota. Located at Tamiami Trail/US Highway 41 and Cochran Boulevard, the nine-acre site formerly housed a vacant 108,500-square-foot Kmart. Brentwood, Tenn.-based GBT acquired the 75-year ground lease last fall. Redevelopment plans include a complete renovation of the former Kmart building with an updated façade, the addition of two small shop buildings and new signage, paving and landscape. Signed tenants include a 40,000-square-foot Burlington, a 20,000-square-foot HomeGoods and a 7,500 square foot national shoe store. The center is approximately 76 percent leased, with 15,000 square feet available. Tenants are expected to open at the development this fall. The second phase of the project will include an additional 62,000 square feet of retail and restaurant space on the parcel’s five acres.