Dillard's, huge theater to anchor Coconut Point mall

The Simon Group announced this week it has reached agreements with Dillard's department stores to open a store at the planned Coconut Point mall. The company also announced it has landed Muvico, which will open a 20-screen megaplex theater.

The announcement means Simon reached the next milestone, signing its first anchor tenants, before mall-race rival the Jacobs Group, which plans a mall of its own a few miles away.

Simon has zoning permission to build 1.8 million square feet of retail space, 300,000 square feet of office and 1,000 homes on 488 acres south of Williams Road and east of U.S. 41 in Estero.

Jacobs has similar permission to build 1.8 million square feet on 244 acres south of Alico Road and east of Interstate 75. Market analysts have said the market might not support both malls, but both developers obviously disagree.

Tom Schneider, executive vice president for development for Simon, said their plans aren't for a traditional mall.

"The south end is a retail-type main street village," he said. "The north end is something that more closely could be defined as a community center. I think what were building is a very unique project."

Bill Fullington is vice president for marketing and communications for Jacobs. He said he expects to be making announcements of anchor tenants in the near future.

"I do expect to have some sort of announcement," he said. "I thought it'd be this week. Next week is Thanksgiving so you don't know, but I can characterize it as extremely busy. Dynamic."

Dillard's already has stores 12 miles north at the Edison Mall in Fort Myers and 18 miles south at Coastland Center in Naples. The company has $8.3 billion in annual revenues from its 338 stores in 29 states. The Estero store will be 180,000 square feet.

Muvico plans a 93,000-square-foot theater, complete with child-care facilities and 20 screens. The company has 12 locations and 233 screens, spokesman Jim Lee said.

Lee said Muvico is a family-oriented theater, which is unique because of an on-site playroom staffed with teachers.

"The kids have a place to go so the parents don't have to have a baby-sitter," Lee said.

In addition, the theater offers menus expanded well beyond normal movie fare, from pizza to popcorn shrimp. Lee said he's looking forward to other evening draws at Simon.

"When we look at shopping centers we're a big draw for them," he said.

Schneider said Simon has eight letters of intent pending with other major tenants, including another 180,000-square-foot anchor.

Schneider said he thinks the area can support both his project and the Jacobs project.

"I believe the two projects can happen," he said. "I'm not blind to the fact they have a project they want to push forward. They're different. I'm trying to focus on what we need to get.

"We're happy to have Muvico. They're a wonderful and magnificent theater. We're working now with a couple of good local restaurateurs, and some national restaurateurs.

"You try to get the big pieces of the puzzle in place and then design around them," he said.

The remaining space for smaller retailers is a hot commodity, too, Schneider said.

"The shop space you really do last. But it's been well-received. We haven't really had anybody say no," he said.

Estero resident Don Eslick said he's still learning about the developers' different plans, but he's felt all along the two projects were different.

"(Jacobs) is a good site, I think more of a discount site," he said. "Like your Wal-Mart or Target. I think (Simon) has the greater potential to serve both communities, Naples and Fort Myers, from the middle."

Schneider said Coconut Point plans to open in October 2005. Lee said Muvico hopes to begin showing movies shortly thereafter.