Popular New Jersey Gastropub Asbury Ale House Commits to Downtown Fort Lauderdale’s Society Las Olas

Kaley Tuning 

 FORT LAUDERDALE, FL, Dec. 15, 2020 –Tricera Capital and Native Realty announce that New Jersey-based gastropub Asbury Ale House is opening its first South Florida location at Society Las Olas, where Tricera and Dev Motwani-led Merrimac Ventures own the ground floor retail space.

The transaction brings Society’s ground-floor retail to full occupancy. Native Realty represented Asbury in the lease.

                                                Ben Mandell

 Asbury Ale House is set to occupy 9,263 square feet at Society, the premier mixed-use project along the revitalized Riverwalk in the heart of downtown Fort Lauderdale.

It joins Thompson Hospitality’s Matchbox Restaurant and Big Buns Damn Good Burger Co., and casual health food restaurant Pura Vida Miami as tenants at the 301 SW First Ave. project.

Bruce Springsteen 

"We are thrilled to sign another major F&B lease during the pandemic and bring this exciting concept to downtown Fort Lauderdale,” Tricera Capital Co-Founder and Managing Principal Ben Mandell said.

Jon Bon Jovi

“Asbury Ale House is a great complement to the restaurant, bar and retail offering at Society Las Olas and is an extremely synergistic co-tenant that will add a unique experience for the customer.”

 Native’s Kaley Tuning and firm Founder and CEO Jaime Sturgis facilitated the lease on behalf of Asbury Ale House.

Daniel Popper 

 “This transaction continues the broader trend of Northeast businesses, especially tenants in the restaurant, bar and entertainment space, increasingly coming down to South Florida,” Sturgis said.

“We are excited to bring another new concept to Downtown Fort Lauderdale and continue the evolution of our hometown. Our firm is actively working with other Northeast restaurant operators who are eager to expand into – or relocate to – South Florida.”

 Founded in 2015, the Gullace Family opened Asbury Ale House in Asbury Park – the Jersey Shore beach town known for cultivating legendary musicians including Bruce Springsteen and Jon Bon Jovi.

Jaime Sturgis 

The gastropub boasts more than 60 different draft beers on tap and culinary staples including wings, burgers, pizzas and small bites.

 The Asbury Ale House news follows the installation of a 14-ton, 27-foot public art piece at Society Las Olas. The sculpture, dubbed “Thrive,” was created by acclaimed South African artist Daniel Popper and went viral on social media upon being unveiled last month.

 Motwani’s Merrimac Ventures has been a driving force in the Riverwalk neighborhood’s reemergence. Merrimac acquired the former Las Olas Riverfront complex and brought in PMG to develop Society on a portion of the property before partnering with Tricera to acquire and curate the retail component.

Merrimac also owns the adjacent property and operates the Wharf Fort Lauderdale and Rivertail with Breakwater Hospitality Group.

Society Las Olas

 In 2018, Sturgis represented homegrown co-working space operator General Provision in its lease of a historic building, owned by Motwani, that is adjacent to Society Las Olas. General Provision’s expansion from its original location in FAT Village was another key catalyst for the neighborhood.

 Across the street from Society Las Olas, Menin Hospitality recently opened Bodega Taqueria y Tequila, the second location for the Miami-based Mexican street-food eatery.

 Tricera Capital is a Miami-based real estate investment firm specializing in value-add, urban retail, office and mixed-use assets. It is headquartered at 80 SW Eighth St. in Brickell.

 Native Realty is headquartered at 719 NE Second Ave. in Flagler Village.

   CONTACT:

Eric Kalis

Vice President

 BoardroomPR

ekalis@boardroompr.com

O 954-370-8999 

C 305-794-5123

www.triceracap.com. 

www.nativere.com