Wednesday, March 26, 2008

Terranova Negotiates Four Office Leases in Weston Valued at Over $5.6M


MIAMI BEACH, FL, PRNewswire/ -- Terranova Corporation has completed four lease deals at the Weston Corporate Centre (photo above) in Weston, Fla., securing tenants that will occupy 23,864 square feet.

Together the deals are valued at over $5.6 million. Terranova Senior Commercial Associate Gordon Messinger represented the landlord in all four transactions.

Messinger negotiated a $2.3 million deal with international digital office solutions company, Ricoh Latin America. Ricoh is relocating and expanding their Latin American Headquarters from Doral to a 9,716 square foot office space at Weston Corporate Centre. Ricoh Latin America is the sales and marketing unit of Ricoh Corporation, a U. S. subsidiary of Ricoh Company Ltd., providing office automation solutions for South and Central America, Mexico, and the Caribbean. Rashid Siahpoosh with Transwestern represented Ricoh Latin America.

Messinger also negotiated a $860,000 deal with Stress Free Corporate Housing; a corporate housing provider that provides corporations as well as individuals with temporary solutions to their housing needs. Stress Free Housing will be relocating from Pembroke Pines to a 3,360 square foot office at Weston Corporate Centre.

A third $780,000 deal, with Community Capital Management, a Florida-based SEC-registered investment advisor that manages fixed income portfolios on behalf of individual and institutional clients. The company's largest portfolio is the CRA Qualified Investment Fund, a $750 million no-load mutual fund comprised exclusively of fixed income community investments, will bring a 4,017 square foot tenant to Weston Corporate Centre.


Messinger also negotiated a $1.7 million renewal with Raymond James Financial (NYSE-RJF), a Florida-based diversified holding company providing financial services to individuals, corporations and municipalities through its subsidiary companies, which will maintain their 6,771 square foot office.

Weston Corporate Centre is a showcase asset in a thriving office market. The 9.83-acre property, which fronts I-75 and Royal Palm Blvd. in the pristine city of Weston, consists of two four-story buildings totaling 148,591 square feet. The property benefits from its location in the city of Weston, whose carefully designed business districts and easy access to major state highways make it a sought-after corporate destination within the Southwest Broward office submarket.

Terranova Corporation, South Florida's leading commercial real estate advisory firm, currently is involved with commercial real estate assets for its clients and it's own portfolio valued over $1.5 billion. The company offers complete commercial real estate services, including asset and property management, leasing, tenant representation, acquisitions dispositions, financing, construction management and development services.

CONTACT:
Karen LaFleur,
Marketing/PR Manager
Terranova Corp.
+1-305-779-8908
First Call Analyst: FCMN

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