Fishermen’s Village, Punta Gorda’s iconic waterfront shopping and dining destination, is no longer under contract after the buyer canceled the deal, according to broker Ashley Bloom, managing partner with SVN Commercial Partners.
“A myriad of insurance and insurance claim issues complicated the due diligence of this particular transaction,” Bloom said.
Details of the offer and identity of the buyer were not revealed.
Bloom said an unpriced call for offers issued last summer attracted more than 10 bids. Shortly after a winning bidder was selected, however, hurricanes Helene and Milton hit the area within two weeks of each other, damaging the property and disrupting the sale.
Hurricane Helene struck Sept. 26, followed by Hurricane Milton Oct. 10. Milton caused extensive damage to Fishermen’s Village, particularly from storm surge. While the shopping center is built on stilts and elevated, floodwaters seeped beneath the structure, damaging electrical and HVAC systems and forcing many shops to close temporarily.
Fishermen’s Village reopened to the public Nov. 1, but some shops remained closed longer. As of early August, open insurance claims from the storms continue to add complexity to any potential deal.
“At this point, it has not been stated if and when the property will officially be put back on the market or a new call for offers process will be initiated,” Bloom said.
Constructed in 1980 on the site of early 20th?century fish packing plants, Fishermen’s Village has 85,549 square feet of retail space, 47 hotel rooms, a marina with 116 wet slips?and 604 parking spaces, plus an adjoining marina. The indoor/outdoor wharf-style mall hosts shops, restaurants, businesses, a beach and a courtyard that regularly features live entertainment, fireworks and seasonal events. The site is also a popular stop for American Cruise Lines ships.
The property has made headlines in recent years, particularly after former owner Jonathan Larmore, CEO of Arizona-based Arciterra Companies LLC, was removed from control in October 2023. A court-appointed receiver, Jeffrey Kolessar of PGFL Associates LLC, was named to oversee the property.
Larmore purchased Fishermen’s Village in 2012 for a reported $8.1 million. He later filed for bankruptcy on several holdings after facing federal charges. His national portfolio included multiple shopping centers and real estate assets.
Larmore had proposed redeveloping Fishermen’s Village to include high-rise condominiums and a hotel with a new entrance on Marion Avenue. That plan sparked backlash from residents, who launched a grassroots effort to preserve the area’s low-rise character and small-town charm.
The movement gained political traction, with four members of the group winning election to the five-member Punta Gorda City Council, where they now hold a majority.
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