PREI Acquires Retail Office Portion of Mercato
Barron Collier Companies, The Lutgert Companies, and Madison Marquette have sold the retail and office portion of Mercato, a mixed-use lifestyle center in Naples, FL, to Prudential Real Estate Investors (PREI), the real estate investment and advisory arm of Prudential Financial, Inc. (NYSE: PRU) with more than $1 trillion in assets under management. Mercato is a 456,359-square-foot open air center built between 2007 and 2009 on 54 acres in the...
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