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Commercial Real Estate
Business Observer Monday, Oct. 8, 2018 1 year ago

Lucky's Market to open new store in Naples

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Naples Promenade deal will backfill former Wild Oats location
by: Kevin McQuaid Commercial Real Estate Editor

Lucky’s Market is poised to open a new location in a site that had been another former specialty grocery store in Naples, continuing its expansion through Florida.

The roughly 30,000-square-foot market is expected to debut in the Naples Promenade by the end of the year.

The lease for the 6424 Naples Blvd. site brings the 157,000-square-foot shopping center to roughly 90% committed, says Patrick Fraley, the Investment Properties Corp. of Naples agent who represented the landlord in negotiations.

Other Naples Promenade tenants include Petco, JoAnne’s Fabrics, Panera Bread Co., Miller’s Ale House and Chik-Fil-A.

The new Lucky’s store had bene a Wild Oats market prior to its acquisition by Whole Foods Market. In the wake of the purchase, Whole Foods closed the Wild Oats location to focus on its store at the mixed-use Mercato complex, also in Naples.

The new Lucky’s will be the chain’s second in Naples. It will also continue the company’s pattern of leasing existing, infill locations. Its first Naples store is in a former Bealls’ store, and in Sarasota, Lucky’s occupies a former Dillard’s department store space.

“The founder of Wild Oats is now the CEO of Lucky’s, so they were very familiar with this location,” Fraley says. “It was a long road to get the deal done, but we got there. It’s good for the center to backfill the space with another quality grocer, and filling that Wild Oats space is something we’ve been working on for a long time.”

 

 

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