A new retail mall is planned along Jones Loop Road in Punta Gorda following a developer’s $6.1 million purchase of 18 acres.
Panera Bread, Chick-fil-A, Chipotle, Aspen Dental, Mattress Warehouse, and America’s Best have already leased units at what is to be called Punta Gorda Station.
The deal was brokered by Michael Price, principal and managing director at LQ Commercial’s Fort Myers office. The buyer was SREG Commercial Real Estate Development.
The acquisition marks the final sale of the overall Jones Loop project that has been positioned for sale by Naples-based Terracap Management for more than a decade.
The retail center is in an area of burgeoning growth.
D.R. Horton is in the midst of building two developments – Sea Grass, consisting of 224 single-family homes on 87.1 acres bordered by Glasgow and Indian Springs Cemetery, and Sea Cove, consisting of 144 single-family lots on 23.53 acres off Taylor and Jones Loop roads.
At a June 6 Punta Gorda City Council meeting, two council members voted against D.R. Horton’s final site plan that passed by a 3-2 vote.
Mayor Lynne Matthews and council member Debi Lux said there wasn’t enough commercial space in the area that is rife with residential homes.
Lux said after the D.R. Horton’s homes are built, there will 665 in the area.
LQ Commercial officials said there will be more than 670 residential units near Punta Gorda Station, which is anchored on the west by Publix and Home Deport off U.S. 41 and on the east by Walmart Supercenter and Aldi.
Overall, there are more than 10,000 homes already permitted or under construction in the rapidly growing area, and the demand for retail spaces, restaurants, and services is at an all-time high, paving the way for a new wave of commercial development, Price said.
The sheer number of new homes being built, particularly in the Burnt Store corridor area, has brought protests from corridor residents in more than a dozen communities, saying there is too much residential growth and not enough commercial amenities, such as a supermarket, walk-in clinic, and services, such as a barbershop, nail salon and hardware store.
Although Punta Gorda Station will serve many Punta Gorda residents in the vicinity of Jones Loop and Taylor roads and nearby neighborhoods, such as Creekside, residents living in the Burnt Store corridor area will have to travel up to 8 miles to get either to Punta Gorda’s stores near U.S. 41 or down to Lee County, which would be about the same distance.
Price touted the location of Punta Gorda station, saying it will “provide much needed retail services to the Punta Gorda area. The tenant mix will be a huge addition for the surrounding residents and will bolster the Jones Loop corridor.”
