Naples, Fla. — Barron Collier Cos., The Lutgert Cos. and Madison Marquette have sold Mercato, a mixed-use lifestyle and entertainment centers with over 450,000 square feet of retail and Class A office space in Naples in southwest Florida.
Mercato is located on a 42-acre parcel in North Naples. The property was purchased by Prudential.
Mercato was originally developed by Barron Collier Cos. and The Lutgert Cos. in 2008 as an upscale, pedestrian-friendly living experience, attracting tenants including Whole Foods, Silverspot Theaters, Sur la Table and Capital Grille.
In 2011, Madison purchased a stake in the ownership of Mercato. National tenants such as Nordstrom Rack, Ulta and Tommy Bahama have been added to the tenant mix.