NAPLES, FLA. — Prudential Real Estate Investors (PREI) has purchased the office and retail portion of The Mercato, a 456,359-square-foot mixed-use development in Naples, on behalf of institutional investors. The terms of the transaction were not disclosed. Mercato’s retail portion is anchored by Whole Foods Market, Nordstrom Rack, a 12-screen Silverspot Theatre, The Capital Grille, McCormick & Schmick’s, Sur La Table and The Paper Source. The office portion is leased to tenants such as Wells Fargo, Bank of America, Merrill Lynch and regional law and financial service firms. PREI has retained Madison Marquette to manage and lease the office and retail portions of Mercato. Daniel Finkle, Manuel De Zárraga, Luis Castillo and Kim Flores of HFF marketed The Mercato on behalf of the seller, a partnership between Madison Marquette, Barron Collier Cos. and The Lutgert Cos. In late November 2013, GE Capital Real Estate provided a $145 million refinance for The Mercato.
Mercato’s retail portion is anchored by Whole Foods Market, Nordstrom Rack, a 12-screen Silverspot Theatre, The Capital Grille, McCormick & Schmick’s, Sur La Table and The Paper Source.
Prudential Real Estate Investors Purchases The Mercato in Naples
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