GBT unveils tenant roster for former Kmart
February 27th, 2018
By Staff Writer, Gary Roberts - Charlotte Sun
PORT CHARLOTTE — Once remodeling is completed, a list of tenants are ready to move into the former Kmart store on Murdock Boulevard.
In a press release issued this week, GBT Realty Corporation officially revealed its plans for Port Charlotte Marketplace, a shopping center redevelopment project on the nine-acre site that previously housed a vacant 108,500-squarefoot Kmart. Nashvillebased GBT acquired the 75-year ground lease last fall.
Redevelopment plans include a complete renovation of the former Kmart building with an updated facade, the addition of two small shop buildings and new signage, paving and landscape.
Signed tenants include a 40,000-squarefoot Burlington, a 20,000-square-foot HomeGoods and a still unnamed 7,500-squarefoot national shoe store.
The center is approximately 76 percent leased, with 15,000 square feet available, according to the release. Tenants are expected to be open for business this fall.
The second phase of the project will include an additional 62,000 square feet of retail and restaurant space on the parcel’s five acres.
“This shows continued further investment in our community,” said Steve Gant, of Riverside Realty Services. “There is continued enthusiasm and confidence in our local Charlotte County market.”
The site is still owned by the pioneering Frizzell family, which used to own all of Murdock. Kmart had a long-term lease on the property before closing several years ago, Gant said.
Charlotte County issued a permit in December to allow demolition of interior walls and some exterior renovations, records show.
Burlington Stores, formerly known as Burlington Coat Factory, is a national off-price department store retailer with 632 stores across the country. Headquartered in Burlington, New Jersey, Burlington has stores in Sarasota, Fort Myers, Naples, Bradenton and one opening up in Cape Coral in April. In 2017, the company remodeled 34 stores.
Burlington is known for selling discounted clothing for men, women and children, plus housewares.
Home-decor chain HomeGoods also benefits from discount shoppers.
A subsidiary of TJX Companies, which operates such wellknown retail outlets as T.J. Maxx and Marshalls, HomeGoods stocks a variety of furnishings, bedding, kitchenware and more. They currently have department stores in Cape Coral and Fort Myers.
In 2016, TJX opened a total of 198 new stores and planned to net about 250 new stores last year, with a potential to add 1,800 stores worldwide in the future.