Terranova Signs Designer Fashion Boutique in Kendall Mall, FL

MIAMI BEACH, FL– Terranova Corporation has signed M-M Couture at Kendall Mall (bottom right photo) an addition that brings unique designer fashion to this popular and convenient Kendall shopping center.

M-M Couture will open on June 6 at Kendall Mall, at 8831 SW 107th Avenue.

The 464-square foot fashion boutique is a destination offering designer clothing and accessories, along with the service and advice of two local owners who have their finger on the pulse of the latest styles.

“Designer fashion was one of the few things missing from Kendall Mall, and I am so excited we’re adding it,” said Terranova executive vice president Mindy McIlroy.

“I am delighted that with M-M Couture, area shoppers won’t have to go out of their way or make a special trip in order to shop for the latest designer trends.”

And having the latest designer trends is entirely the idea behind M-M Couture, founded by local fashion connoisseurs Maria and Michelle.

The store carries clothing and accessories from designers that include Collective Concepts, Rubber Ducky, Lush, Classique, Body Language, Aily V and Big Buddha.

Maria and Michelle update inventory frequently and focus on the latest styles, so customers are assured they are seeing the latest that the fashion world has to offer.

“We’re looking forward to opening our doors at the Kendall Mall and providing our customers with up to the minute trends that will suit their style and budget,” Maria said.

“Our best compliment is our customers’ referral,” said Michelle.

M-M Couture will be having their Grand Opening Event on Saturday, June 6th from 11:00am to 8:00pm. Please join them for cupcakes and champagne.

Contact: Karen LaFleur, klafleur@terranovacorp.com

Former Merchant Returns to Pinecrest in S. FLorida With Original Restaurant Concept

MIAMI BEACH, FL– Terranova Corporation is adding unique local flavor to the tenant lineup at Suniland Shopping Center, (top right photo) bringing a former merchant with a new restaurant concept back to the Pinecrest area.

Cine-It Burger and Grill, an independently owned, casual restaurant serving homemade burgers and other favorites, opened a new 2,517-square foot restaurant at 11421 South Dixie Highway, at the Suniland Shopping Center on April 9.

Meals at Cine-It will be served in a fun setting in which big-screen TVs will play memorable scenes from movie favorites, such as Arnold Schwarzenegger’s “I’ll be back” scene in The Terminator and Clint Eastwood’s “Go ahead, make my day” scene in Sudden Impact.

“We are particularly delighted with this new tenant because he brings a fun, original and personal touch to the all-American burger meal, and I think the center’s customers are going to love it,” said Terranova executive vice president Mindy McIlroy, who represented the landlord in the lease.

“This is an experienced merchant who has served this market before and knows well what people like and need when they come to eat at Suniland.”

Cine-It Burger and Grill is owned by Jesse Vazquez, a veteran of the fast food industry in South Florida.

Vazquez worked for years in the McDonald’s chain, before owning the Chicken Kitchen franchise at Suniland.

The Chicken Kitchen still operates at Suniland, while Vazquez moved on to conceive and launch his own venture, resulting in the creation of Cine-It Burger & Grill.

He chose to open it in his former stumping ground.

“I couldn’t think of a better place to open my restaurant,” Vazquez said. “This is a great center and a great market, and I look forward to serving the many people who come to Suniland for lunch and dinner.”



Contact: Karen LaFleur, klafleur@terranovacorp.com

Terranova Corp. Signs 7 New Retail Leases

MIAMI BEACH, FL, April 7, 2009 – Showing strong performance in a challenging business environment, Terranova Corp. has signed seven new retail leases in the last sixty days, bringing valuable new tenants to several of its shopping centers.

Patagonia Deli Market has signed an 2,675-square foot, five-year lease on Miracle Mile, (top right photo)at 244 Miracle Mile in Coral Gables, where it will offer an open air style gourmet market selling for on and off premise consumption barbecue style meats, Argentinean wines, pastries and imported Latin American grocery items.

· Rob’s Bageland has signed a 4,518-square foot, five-year lease at Shops at San Marco, a Publix-anchored center at 13800 S. Jog Road in Delray Beach. This is the deli’s second location in Broward County where it is creating a following for its breakfast, lunch and dinner menu.

· Cine-It Burger and Grill has signed a 2,517-square foot, five-year lease at 11509 S. Dixie Highway, in the Suniland Shopping Center, (top left photo) where it will introduce its original restaurant concept: serving homemade burger meals and other favorites, while showing clips of popular films on large screen TVs.

· One Price Dry Cleaning has signed an 822-square foot, three-year lease also at Suniland, where it will offer professional, reliable and affordable dry cleaning services to the Pinecrest area.

· Nuevo Mundo Multiservices has signed a 1,600-square foot, five-year lease at Parkhill Plaza, a Winn Dixie anchored center at 9535 W. Flagler Street in Miami, where it will sell cellular phones and offer services that range from money transfers to Central and South America to U-Haul truck rentals.

· Pines Discount Pharmacy has signed a five-year, 987-square foot lease at Palm Johnson, a Winn Dixie anchored center at 9940 Johnson Street just north of Pines Boulevard in Pembroke Pines, where it will provide the personalized service of an independently owned pharmacy.

· Low Price Insurance has signed an 861-square foot, three-year lease at Palm Plaza, at 16801 NW 87th Avenue in Miami, where it will offer consumer and commercial insurance, document preparation for certain transactions and notary public services.

“With our leasing team’s creativity and hard work, we keep adding value to our properties, even in these tough times,” said Terranova executive vice president Mindy McIlroy. “In this economy, deals don’t fall on your lap, which makes me especially proud of our performance this year.

Contacts:

Karen Lafleur, klafleur@terranovacorp.com
Mindy McIlroy, mmcilroy@terranovacorp.com

Palm Beach County Shopping Centers show positive absorption in 2008

MIAMI BEACH, FL, Mar. 31, 2009 – Palm Beach County shopping centers showed positive market absorption for the year ending in the third quarter of 2008, with 527,084 more shopping center square feet occupied in 2008 than a year before, according to statistics recently released by Terranova Corp.

Developers delivered nearly one million square feet of new retail space in those 12 months, increasing total inventory of shopping center space and contributing to increased market absorption.

While countywide vacancy increased to 7.5% in the third quarter of 2008, compared to 5.09% a year before, there still were more square feet occupied in 2008 than in 2007.

Although vacancy rates went up in all of the county’s six submarkets, three submarkets showed increases in average asking rent: Boynton Beach/Delray Beach submarket went up 2.49% to $25.95; Wellington/Royal Palm Beach went up 0.79% to $29.40 per square foot; and Lake Worth went up 0.36% to $19.63.

The biggest decrease was in the Jupiter/Tequesta submarket, where average asking rent declined 6.04% to $24.11. Countywide, the average asking rent for inline space was $25.67 per square foot, slightly lower than $25.78 a year before.

Please visit http://www.terranovacorp.com/ to purchase your copy of the 2008 Palm Beach Market Report.

Terranova Signs DHL Global Mail to $3.2M Lease at Weston Corporate Centre

WESTON, FL – Feb. 4, 2009 – Terranova Corporation is proud to announce that DHL Global Mail, the second largest mail service provider in the U.S., has signed an office lease at Weston Corporate Centre (top right photo) in Weston, Fla., where the international company will establish its North American headquarters.

Terranova senior commercial associate Gordon Messinger represented the landlord in the 20,749 square foot transaction, valued at over $3.2 million. Weston Corporate Centre is located at 2700 South Commerce Parkway in Weston’s business district.

“DHL’s commitment underlines the prestige of this office property, considering that right now it is a tenants’ market for office space,” Messinger said. “DHL could have had its pick, and it chose Weston Corporate Centre because of its many strengths.”

DHL Global Mail is the second largest mail service provider on the U.S. market after the United States Postal Service.

A subsidiary of Deutsche Post World Net, the world’s leading logistics group, DHL Global Mail is the conglomerate’s one-stop shop for all international mail services.

DHL Global Mail offers its customers direct connections to more than 200 countries. The company has over 4,000 employees and operates sales offices and production sites in Europe, Asia and Australia as well as North and South America.

CONTACT:
Karen LaFleur, Marketing/PR Manager, Terranova Corp., 305 779 8908, klafleur@terranovacorp.com

Terranova Signs Cici's Pizza at Parkhill Plaza, Miami

MIAMI BEACH, FL– Terranova Corporation has signed Cici’s Pizza at Parkhill Plaza, a 112,448 square foot shopping center located at 9609 West Flagler Street in Miami.

Terranova Corporation represented the landlord in the five-year, 4,000 square foot lease with Cici’s Pizza.

CiCi's Pizza is a fast-growing, family-oriented restaurant chain, serving fresh pizza, pasta, salad and dessert, all you can eat for under $5. CiCi’s mission then and now is to exceed each guest's expectation in food, service and cleanliness at an affordable price.

CiCi’s has grown to over 600 restaurants in 29 states, since opening its first restaurant in Plano, Texas in 1985.

Industry professionals have taken notice of CiCi’s Pizza’s continuous growth and success. Nation's Restaurant News has ranked CiCi’s No. 1 for sales and unit growth in the pizza chain category for the past three years. In its recent 2007 ranking, Entrepreneur magazine designated CiCi’s as the top brand in the Italian restaurant franchise category.

Cici’s will join a line-up of tenants at Parkhill Plaza that include Winn-Dixie, Dollar Tree, Denny’s, Wendy’s, Advance America, The Check Cashing Store, Estrella Insurance, Jackson Hewitt, Papa John’s Pizza, Huntington Learning Center and Washington Mutual Bank. Space is still available for lease. Please call, 305-695-8700 for more information.

Priscilla of Boston to Debut on Coral Gables' Miracle Mile

Terranova Corp. Signs the Bridal Company to a 10-year, 6,900-SF Lease Valued at Over $3.3M

MIAMI BEACH, FL – June 3, 2008 – Priscilla of Boston, a bridal company that has been around almost 60 years, is joining the growing list of national retail chains opening stores on Miracle Mile (top right photo)-- the signature street of downtown Coral Gables, known for designer and bridal shops, art galleries, restaurants and live theatre.

Terranova Executive Vice President, Mindy McIlroy represented the landlord in the 10 year, 6,900 square foot lease. This marks the first store for the retailer in the state. Priscilla of Boston will open its doors 4th quarter 2008 at 340 Miracle Mile, Coral Gables, FL.

Terranova Chairman Stephen Bittel had a vision that Miracle Mile would lend itself to becoming the next Lincoln Road with the acquisition of eight properties in October 2004 on the Mile totaling 79,751 square feet of retail space.

“Since the 1940s, Miracle Mile has been known as Coral Gables’ original retail shopping destination and we hope to continue that current evolution into a modern, stroll-and-shop urban street for the city’s fast-growing residential and daytime population by bringing in more national retail chains,” Bittel said.

Priscilla of Boston’s legacy that was started almost 60 years ago lives on in the quality and craftsmanship of each gown and the high level of service given to every customer at their salons.

Each collection combines the heritage of couture craftsmanship with modern, flattering silhouettes and sumptuous fabrics. Unique details and luxurious embellishments add an element of individual style and classic, timeless elegance.

Today, Priscilla of Boston brands offer an extensive selection of exclusive styles each season, which can be customized to suit each bride's preference.


CONTACT: Karen LaFleur, klafleur@terranovacorp.com

Terranova Reports Broward County Retail Rents Rise While Occupancy Declines

(Pompano Citi Center, above, shows parking lot capacity)


MIAMI BEACH, FL– Shopping center rents inBroward County increased 6% between spring 2007 and spring 2008, according to Terranova’s 2008 Shopping Center Update Report.

Average asking rent for inline space in Broward County is now $23.98 per square foot net, compared to $22.63 in 2007. (Sawgrass Mills mall, Sunrise, FL at top right)

A drop in occupancy accompanied the increase, with the county’s vacancy rate now at 7.44%, compared to 5.46% in 2007. The higher vacancy rate reflects an increase in the availability of both big-box and inline space.

The retrenchment or demise of various chains such as Rag Shops, 99 Cent Stuff, CompUSA, Pier One Kids and Bombay Co. impacted occupancy, as these stores occupied anchor and junior-anchor spaces throughout the county.

Inline space also has become more available throughout the county, as smaller local tenants have closed while national chains such as Hollywood Video, Curves and Quizno’s have reduced the number of locations.

“South Florida’s retail market remains strong and resilient, but no doubt we all now have more space available to lease,” said Stephen Bittel, Terranova’s Chairman.

“If you are in amarket with strong fundamentals, as SouthFlorida is, that means opportunity more than anything else.”

Those fundamentals include population growth and a diverse economy, and continue to fuel new retail construction, with some 25 projects totaling more than three million square feet under construction or expected to break ground in the next 12 months.

Terranova Signs Deals Valued Over $1.6M at Westfork Plaza in Pembroke Pines, FL

MIAMI BEACH, FL–– Terranova Corporation has negotiated three commercial leases at Westfork Plaza, (top right photo) a 252,154 square foot shopping center located at 15825 Pines Boulevard in Pembroke Pines, FL 33127.

A new Seafood/Italian Restaurant concept leased 3,214 square feet for 10 years. The restaurant is being developed by the Vilarino family, long term successful operator of the Las Vegas Cuban Restaurants. Executive Vice President Mindy McIlroy represented the landlord in the lease.

Play N Trade leased 1,496 square feet for 5 years. Play N Trade is the largest and fastest-growing video game franchise in the country. Their diverse product lineup includes new and used video games, accessories and consoles from leading manufacturers. This will be the second opening for the franchise in Broward County. Commercial Associate Eric Sadkin represented the landlord in the lease.

Performers Playhouse leased 2,187 square feet for 3 years. The performing arts studio will offer a variety of professionally instructed classes for all ages including dance, acting, musical theater and theater magic. Classes will remain small allowing for more individualized attention.

The playhouse will also offer weekday after-school transportation from school to the studio for students participating in the After-School Performer’s Workshop, a program designed to integrate music, movement and imagination. Sadkin represented the landlord in the lease.

Westfork Plaza is one of the largest power centers in the Pembroke Pines/Miramar market, located on the major retail corridor Pines Boulevard in Broward County.

The shopping center includes national tenants 13 screen Regal Theater, Winn Dixie, Costco, Office Max, GNC, Prudential Realty, Party City, State Farm Insurance, The UPS Store, Mattress Giant, Countrywide Loans, Hertz Rent A Car, Payless, Walgreens and KFC.

Terranova Signs $1.3M Deal with Professional Bank in Coral Gables, FL

(Scenic Coral Way, a major thoroughfare in Coral Gables, FL)

MIAMI BEACH, FL--Terranova Corporation represented Professional Bank, a new locally owned community bank that will be headquartered in Coral Gables, Florida at the Plaza San Remo (photo at right) at 6705 Red Road. Plaza San Remo is a new seven-story, 180,000-square foot, mixed-use development that also includes medical-office condominiums and a 739 space structured parking garage.

Terranova Senior Commercial Associate, Gordon Messinger represented the Professional Bank in the 10 year, 2,750 square foot lease valued at nearly over $1,300,000.

Professional Bank a State chartered, FDIC approved bank will open in late summer according to Gary Moss, the Bank’s President. Moss went on to say that” Professional Bank will target professionals, business people and other high net worth individuals in the Pinecrest, South Miami, Coral Gables, Downtown Miami and other surrounding areas.”

Terranova Signs First Leasing Deal in Miami for Furniture Retailer EQ3

Deal at Midtown Park on North Miami Avenue is Valued at Over $3.6M

MIAMI BEACH, FL – Terranova Senior Commercial Associate, David Preston represented the tenant in the 10 year, 11,000 square foot lease. This marks the first store for the retailer in the state. EQ3 will open its doors 4th quarter 2008 at Midtown Park located at 3466 North Miami Avenue.

EQ3 is a concept inspiring the transformation of rooms within the intimate and emotional place of the home. EQ3 is about innovative rooms of affordable furnishings for simply living, alone or with others. The designs of EQ3 are globally inspired, and centered in the growing interest by many across all generations for a lifestyle expression reflecting modern living. This growing consumer group does not simply fit within a demographic category. Spanning all ages, those within this "psychographic" live with a strong set of beliefs and values, are educated, have an informed world view, and deeply value intentional behaviors.

EQ3 has been in the business since 2001 and now has 21 EQ3 stores across North America, with more under construction. EQ3 continues to expand its retail presence across North America and around the world. EQ3 showrooms are located across Canada in Vancouver, Calgary, Winnipeg, Toronto, London, Ottawa and Burlington. In the United States, locations can be found in the San Francisco Bay Area, Los Angeles, Grand Rapids, Richmond, Norfolk, Charlotte and Phoenix, among others. EQ3 products are also available through 300 in-store galleries across North America, Latin America, Europe and Asia.

Terranova exclusively represents EQ3 throughout Florida and is actively seeking new sites. To learn more about EQ3 visit their website at http://www.eq3.com/.

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

Web site: http://www.terranovacorp.com/

First Call Analyst: FCMN

Teranova Signs First South Florida Publix Apron's Cooking School at Polo Club Shoppes in Boca Raton, FL

MIAMI BEACH, FL– Terranova is proud to announce the signing of the first Publix Apron’s Cooking School in South Florida as a tenant at Polo Club Shoppes, located at 5050 Champion Blvd., Boca Raton, FL.

Terranova Associate, Eric Sadkin represented the landlord in the 5-year lease. Apron’s is taking 2,047 square feet of retail space with plans to open their doors 3rd quarter 2008.

Apron’s will offer shoppers a chance to take cooking classes, learn from celebrity chefs and hone culinary skills within the walls of a new state-of-the-art store. This concept is the fourth in the state and fifth in the nation. For more information, visit their website at http://www.publix.com/aprons/about/ApronsCookingSchool.do.

Polo Club Shoppes, a 124,854 square foot shopping center, is a community center with tenants such as Walgreens, SunTrust Bank, TooJay’s Deli, The UPS Store and Subway. Polo Club Shoppes is located on the border between exclusive country clubs and one of the major business districts of central Boca Raton with almost 80,000 employees within 3 miles. Office Depot is currently constructing their global headquarters opposite the Polo Club Shoppes on the southeast corner of Military Trail and Clint Moore Rd.

In addition to Apron’s Cooking School, Terranova has signed seven leases at Polo Club Shoppes since June 2007 making the center a local favorite. Among these tenants are Boca Coffee Exchange, DMK Optical, Boca Tanning Club, Artcetera, Dr. Marianna Zadov, DMD, PA, Atlas Travel Agency and D.D. Flats Restaurant. Leasing efforts are being continued to bring the highest quality of tenants to the center.

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.