The property is across from Franklin Square and is adjacent to the entrance/exit of the Ben Franklin Bridge in Philadelphia. The demographics are very strong, as the population in a three-mile radius exceeds 419,000. The existing building will be converted into retail/hotel/parking.
Leases are under negotiation at this time.
The Mercato combines fashion, restaurants and entertainment in an easy-to-navigate, Main Street setting with the strategic placement of uses to encourage pedestrian flow to all store-fronts and during multiple day parts. It also addresses a competitive gap in the Naples, Fla., marketplace for the upper-middle national chain retail mix.
The Mercato is not a lifestyle center with other uses tacked on to make it “mixed use,” but it will become the new downtown of the growing North Naples area.