Retail Development Feeds Off Gulf Coast Housing Boom

NAPLES, FL-Most of Southwest Florida’s new retail product is in the North Naples and Bonita Springs/Estero submarkets, according to a new report from the local office of CB Richard Ellis.

Of the 300,000 sf added in Bonita Springs, some 230,000 sf were absorbed in the first six months of this year. And of the 121,000 sf additional retail inventory in North Naples, all but 18,300 sf were gone by mid-year.

Miromar Outlets off I-75 in Lee County is being enlarged to 330,000 sf, with another phase on the drawing board that would bring the off-price complex up to 600,000 sf.

In North Naples, the Courtelis Co. is building the 300,000-sf Granada Shoppes, to be anchored by an Expo Design Center, Marshall’s and Haverty’s Furniture.