North American Properties and PGIM Real Estate have expanded their relationship to include Mercato, a 450,000 square foot lifestyle center in Naples. This is his fourth time the two companies have worked together, including Avalon in Alpharetta, Georgia, Avenue East Cob in East Cob, Georgia, and Riverton in Sayreville, NJ. NAP’s Atlanta office (NAPA) will soon take over leasing and property management responsibilities, followed by a vision of capital improvements and enhanced placemaking.
“Mercato has long been a favorite of the North Naples community. As the market continues to grow, it is also important for the property to mature. To complement the vibrant dining, social and retail scene that already exists. We are excited that our North American properties will bring new experiences to strengthen Mercato’s relevance and community ties to PGIM Real Estate’s Global Head of ESG.
NAPA, which specializes in reimagining value-added investments and mixed-use assets, plans to further combine Mercato’s street-level experience and restore the center’s bespoke retail collection through an enhanced merchandising line-up. NAPA will also deploy its hands-on operational approach to repositioning the facility as a community-oriented entertainment destination.
NAPA’s Director of Leasing, Morgan Liesenfelt, and NAPA’s Leasing Officer, Regan Thomas, will lead the leasing strategy and focus on attracting new food and beverages. The core onsite property team will remain unchanged, with Michael McLean as General Manager, Valerie Cope as Senior Marketing Manager and Jackie Feltman as Social Media and Marketing Coordinator.
“Southwest Florida offers a great quality of life and Mercato has a very loyal and established fan base, and we see great potential to elevate Mercato as the most popular destination in the market. ,” said Tim Perry, NAPA’s Managing Partner.
First opened in 2008, Mercato has over 60 retail, restaurant and entertainment concepts, 140,000 square feet of Class A office space and 92 luxury residences. The center is backed by Nordstrom Rack, Silverspot Cinemas and Whole Foods Market and attracts 4.3 million visitors annually.
For Mercato happenings and updates, visit www.MercatoShops.com. ¦