A Port Charlotte plaza once anchored by a Kmart is getting two new tenants – a major anchor and a store relocation from the nearby mall.
Port Charlotte Marketplace, at the intersection of Tamiami Trail and Cochran Boulevard, is adding a 28,850-square-foot Total Wine & More in its second-largest anchor space, and a 2,000-square-foot Kay Jewelers retail store in a space that fronts Cochran.
With these new tenants, the retail center will be nearly 100% leased, according to a press release from its Tennessee-based property owner, GBT Realty Corporation. The only remaining spots at the Marketplace are two 1,600-square-foot spaces.
Total Wine is filling the former Kmart space that was most recently leased to Lucky’s Market. Lucky’s, based in Colorado, signed a lease with GBT in 2018 but eventually filed for bankruptcy and closed most of its stores after its main investor, Kroger, backed out in 2019.
Kay Jewelers relocated to the Marketplace from the nearby Port Charlotte Town Center mall, which has been peeling off tenants as malls have fallen out of favor as central retail locations. The mall lost its Sears store in 2019 and its Macy’s earlier this year.
GBT purchased the Port Charlotte Marketplace in 2017. It has since invested $23 million in the property, adding 58,000 square feet. The center’s fleet includes national retailers like HomeGoods, Ross Dress for Less, Burlington and Sketchers as well as service and dining tenants like Pacific Dental Services, Take 5 Oil Change, Essence Nail Spa, Little Caesars, Bento House and Healthy Pho.