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Anatomy of a Lease: Total Wine & More in Port Charlotte, Florida

Total Wine & More signed a lease for an end cap space at The Port Charlotte Marketplace, located in Port Charlotte, Fla., which is situated about halfway between Fort Myers and Sarasota in the southwest portion of the state. The space formerly housed a Lucky’s Market, and the finished store expects to be open by the end of this month. The location appealed to Total Wine & More, as it has high-visibility along Tamiami Trail, a main retail corridor street, which gets an average annual daily traffic count of 58,000 vehicles. There is also a strong pedestrian flow throughout the value-driven power center, which boasts numerous wellknown national retail tenants such as Ross Dress for Less, Burlington, HomeGoods, Skechers Warehouse Outlet, Take 5 Oil Change, Little Caesars Pizza, T-Mobile and Sally Beauty. The shopping site is located less than a mile from a Walmart Supercenter and is within a mile from North Charlotte High School, and is three miles away from Centennial Park, which has baseball fields, soccer fields, nature trails and fishing. In addition, the Charlotte Sports Park is three miles away, which is the home stadium for the Gulf Coast Rays minor league baseball team.

Tenant: Total Wine & More

Location: Port Charlotte, Fla.

Square Footage: 28,850 s.f.

Property Type: Power Center

Developer: GBT Realty Corporation

An entity of GBT Realty Corporation, called Capital Holdings Division, acquired the shopping center back in November of 2017 when it just consisted of a 108,500-s.f. Kmart building on a nine-acre plot of land. GBT Realty has since invested about $23M towards its redevelopment, which was completed in 2019 and included renovating and upgrading the building, while adding 58,000 s.f. of new structures. The Southwest Florida area continues to be a hot market in which 71% of the people are under the age of 65, and the region is expected to grow to a population of 1.5 million by 2025.

Tenant Representation: JLL, 3344 Peachtree Road N.E., Suite 1200, Atlanta, GA 30326. 

Patrick Arnold, SVP, (404) 995-2270. parnold@am.jll.com

Property Representation: GBT Realty Corporation, 9010 Overlook Blvd., Brentwood, TN 37027. Alan Lloyd, SVP of Leasing, (615)515-4069. alloyd@gbtrealty.com

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Linda Frabl

Frabl is the former editor and reporter of Crittenden’s Retail Tenants Report. She has several years of experience in publishing including stints as a freelance writer, managing editor, copy editor and as an editor-in-chief for two Los Angeles County-based lifestyle magazines. She has worked for Crittenden Research since 2018. She has a degree in English from the University of California, Santa Barbara, and resides in San Diego.

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