TERRANOVA’S PORTFOLIO WINTER 2015
1
FLORIDA’S LEADING FULL-SERVICE COMMERCIAL REAL ESTATE ADVISORY FIRM, IS INVOLVED WITH OVER $1 BILLION IN COMMERCIAL REAL ESTATE ASSETS FOR ITS CLIENTS AND ITS OWN PORTFOLIO. WITH A BROAD LIST OF PARTNERS AND CLIENTS, TERRANOVA’S COMPREHENSIVE ARRAY OF SERVICES INCLUDE HIGHSTREET RETAIL, LEASING & PROPERTY MANAGEMENT, ACQUISITION/ JOINT VENTURES, TENANT REPRESENTATION, DISPOSITIONS, FINANCING, AND DEVELOPMENT & CONSTRUCTION MANAGEMENT. SERVICES ARE OFFERED TO A SELECT GROUP OF PARTNERS/ CLIENTS WHO COUNT ON US TO MAXIMIZE THE VALUE OF THEIR REAL ESTATE.
HIGHSTREET RETAIL
Terranova is the market leader in high-traffic, street-level retail. With an eye for trends combined with intensive market research and expert negotiation, Terranova builds its street retail properties into valuable financial assets and community-enhancing elements. Street retail activity include two of South Florida’s premier retail streets – Lincoln Road in Miami Beach, FL and Miracle Mile in Coral Gables, FL.
LEASING & PROPERTY MANAGEMENT
Terranova excels at increasing property value through leasing, consistently boosting the occupancy and marketability of every property in its portfolio. With a complete assessment of tenant mix, demographics and market trends, Terranova pursues the optimal match of tenant, property and environment, enhancing value with every deal. Managing the day-to-day operations, of its commercial real estate portfolio, Terranova devotes constant attention to maintenance, appearance, and sustainability of each property under its care.
ACQUISITIONS/JOINT VENTURES
Terranova provides market knowledge and due diligence to advise and/or joint venture with clients on the acquisition of real estate assets, including forward-looking strategies to enhance their values and maximize return on investment.
TENANT REPRESENTATION
Terranova is a knowledgeable ally of clients searching for the best locations to expand their businesses. It provides customized services that include state-of-the-art site research tools, current data on market demographics, rental rates and occupancy, and firsthand experience with prevailing negotiation practices.
DISPOSITIONS
Terranova takes pride in its track record of superior gains for sellers of commercial and multifamily real estate. It achieves results through a thorough understanding of real estate value for both buyers and sellers, access to a vast selection of investors, and an in-house department dedicated to producing informative and compelling offering memoranda.
FINANCING
Terranova pursues the best financing terms for its clients, enabling them to achieve acquisition goals, reduce borrowing costs and unlock equity on investments. Terranova has closed over $1 billion in debt and equity placements involving retail, apartment, office, mini-warehouse, mobile home parks, hotel and industrial projects nationwide.
DEVELOPMENT & CONSTRUCTION MANAGEMENT
Terranova provides construction and development management for a wide array of retail, office and industrial projects, ranging from post-hurricane renovation to tenant improvements and brand new development. Construction management services have been rendered on behalf of clients such as Blackrock Advisors, Bank of New York, Travelers and TA Associates. With thorough knowledge of the construction process, permit requirements and regulation environment, Terranova ensures its construction projects reach completion promptly and successfully.
2
terranova assignments
3
miamidade county
4
5
600 lincoln road, miami beach
6
PROPERTY FEATURES Iconic corner of Lincoln Road and Pennsylvania Avenue offering beautiful frontage and outdoor café opportunities Surrounded by retail market leaders H&M, Starbuck’s, GUESS, and many more Shared corner with internationally renowned Sushi Samba restaurant Steps away from the Miami Beach Convention Center and New World Symphony Soundscape
7
719-737 lincoln road, miami beach
8
PROPERTY FEATURES Located in the heart of Lincoln Road Newly remodeled storefront awnings with prime frontage and outdoor seating opportunities Surrounded by retail market leaders Forever 21, Starbuck’s, BCBG, ARMANI and many more
9
741-749 lincoln road, miami beach
10
PROPERTY FEATURES Located at prime intersection of Lincoln Road and Meridian Avenue Surrounded by retail market leaders BCBG, Anthropologie (coming soon), Marshall’s (coming soon) and many more Steps away from the Miami Beach Convention Center and New World Symphony Soundscape Be a part of the newest district in the Lincoln Road area – North Lincoln Lane!
11
801-821 lincoln road, miami beach
12
PROPERTY FEATURES Prime retail block located between Meridian and Jefferson Avenue Surrounded by retail market leaders Lululemon, Dylan’s Candy Bar, Urban Outfitters, and many more Steps away from the Miami Beach Convention Center and New World Symphony Soundscape
UP
UP
UP
13
826-836 lincoln road, miami beach
14
PROPERTY FEATURES Prime retail block located between Meridian and Jefferson Avenue Surrounded by retail market leaders Lululemon, TUMI, FOSSIL, Bebe, and many more Steps away from the Miami Beach Convention Center and New World Symphony Soundscape
15
723 lincoln lane, miami beach
16
PROPERTY FEATURES 200 to 750 SF of prime ground floor space available at the premier flagship building on the corner of Meridian Avenue and Lincoln Lane Wanted- Best-in-class national and local food concepts Catering to the growing residential, office, and visitor population of Miami Beach Located just 65 steps from Lincoln Road, the New World Symphony Soundscape, and Miami Beach Convention Center
GROUND FLOOR
MERIDIAN AVENUE
750 SF 750 SF 750 SF 750 SF
480 SF
600 SF 436 SF 200 SF
N. LINCOLN LANE 17
first floor
801 lincoln road, miami beach
tenant 2 2,410 sf
ceiling height 14’-6”
tenant 4 356 sf
second floor
ceiling height 14’-6”
10,350 sf
third floor
ceiling height 14’-6”
roof deck 4,214 sf
tenant 3 5,366 sf
ceiling height 10’-0”
18
PROPERTY FEATURES Prime location between of Lincoln Road and 17th street – main access point to Lincoln Road Surrounded by retail market leaders Anthropologie (coming soon), Marshall’s (coming soon), CB2, Forever 21, and many more Steps away from the Miami Beach Convention Center and New World Symphony Soundscape Be a part of the newest development in the Lincoln Road area – North Lincoln Lane!
19
340-360 miracle mile, coral gables, fl
20
PROPERTY FEATURES Strong daytime traffic from concentration of office buildings within walking distance A preferred destination for professionals, offering restaurants such as Hillstone, Tarpon Bend, Fleming’s, Morton’s, Swine, and Sushi Samba are just steps away Ample metered, valet, and garage parking available Growing residential population within walking distance
21
257-263 miracle mile, coral gables, fl
22
PROPERTY FEATURES Strong daytime traffic from concentration of office buildings within walking distance A preferred destination for professionals, offering restaurants such as Hillstone, Tarpon Bend, Fleming’s, Morton’s, Swine, and Sushi Samba are just steps away Ample metered, valet, and garage parking available Growing residential population within walking distance
23
247 miracle mile, coral gables, fl
24
PROPERTY FEATURES Strong daytime traffic from concentration of office buildings within walking distance A preferred destination for professionals, offering restaurants such as Hillstone, Tarpon Bend, Fleming’s, Morton’s, Swine, and Sushi Samba are just steps away Ample metered, valet, and garage parking available Growing residential population within walking distance
25
244 miracle mile, coral gables, fl
26
PROPERTY FEATURES Adjacent to Benihana & Miracle Theater Strong daytime traffic from concentration of office buildings within walking distance A preferred destination for professionals, offering restaurants such as Hillstone, Tarpon Bend, Fleming’s, Morton’s, Swine, and Sushi Samba are just steps away Ample metered, valet, and garage parking available Growing residential population within walking distance
27
200-230 miracle mile, coral gables, fl
28
PROPERTY FEATURES The most prominent intersection in Downtown Coral Gables Adjacent to Starbucks and across from Hillstone Strong daytime traffic from concentration of office buildings within walking distance A preferred destination for professionals, offering restaurants such as Seasons 52, Tarpon Bend, Fleming’s, Morton’s, Swine, and Sushi Samba are just steps away Ample metered, valet, and garage parking available Growing residential population within walking distance
29
135-137 miracle mile, coral gables, fl
30
PROPERTY FEATURES Strong daytime traffic from concentration of office buildings within walking distance A preferred destination for professionals, offering restaurants such as Hillstone, Tarpon Bend, Fleming’s, Morton’s, Swine, and Sushi Samba are just steps away Ample metered, valet, and garage parking available Growing residential population within walking distance
31
136 miracle mile, coral gables, fl
32
PROPERTY FEATURES Strong daytime traffic from concentration of office buildings within walking distance A preferred destination for professionals, offering restaurants such as Hillstone, Tarpon Bend, Fleming’s, Morton’s, Swine, and Sushi Samba are just steps away Ample metered, valet, and garage parking available Growing residential population within walking distance
33
105-107 miracle mile, coral gables, fl
34
PROPERTY FEATURES Strong daytime traffic from concentration of office buildings within walking distance A preferred destination for professionals, offering restaurants such as Hillstone, Tarpon Bend, Fleming’s, Morton’s, Swine, and Sushi Samba are just steps away Ample metered, valet, and garage parking available Growing residential population within walking distance
35
4585 ponce de leon blvd, coral gables
Granada Golf Course
Miracle Mile Venetian Pool
Biltmo re Hotel & Country Club
Coral Gables Merrick House
Le Jeune
Granada Blvd.
Coral Way
Butterfly Ga rdens
Coral Gables Library
Bi rd Way Merrick Shops
Rivera Golf Course
Metrorail Station
Grand Ave.
Blue Rd.
University of Miami
P
36
SD
e ixi
Hw
y.
Rivera Drive
eD
c on
Granada Blvd.
Red Road
d.
Blv
on
e eL
PROPERTY FEATURES Up to 1,787 SF space adjacent to upscale 1,000 unit residential community available Rare opportunity located in the affluent community of Coral Gables with unique visibility and sight-lines from Miami’s busiest through fare - U.S. 1 Ideally positioned admidst ample daytime population, dense affluent residential, and adjacent to Village of Merrick Park Highly trafficked intersection of Ponce De Leon Blvd & Le Jeune Road
37
20000 w. dixie hwy, aventura
Artist rendering of project
38
PROPERTY FEATURES Exciting new mixed-use development in the Aventura submarket with 400 homes and up to 4,000 SF of retail Bays available as small as 790 SF up to 4,000 SF Excellent frontage along W. Dixie Hwy., just west of Biscayne Blvd On site parking Broke ground: March 2015 DELIVERY DATE: 2nd Quarter 2016 CEILING HEIGHT: 14 feet
39
120 ocean drive, miami beach
40
PROPERTY FEATURES Rare retail leasing opportunity on the ground floor of the most exclusive Miami Beach building 54 feet of frontage on Ocean Drive Exclusive courtyard area Adjacent to popular celebrity spots such as Prime 112, Prime Italian, Joe’s Stone Crab, Smith & Wollensky, Estiato Milos & more
41
2216 Park Ave, Miami Beach
42
1.
Essensia Restaurant + Lounge
1.
2.
The Broken Shaker
2.
3.
The Sand Box
3.
4.
Villa Azur
4.
5.
Vintro Hotel & Kitchen / Vintro Park
5.
6.
Klima Restaurant & Bar
6.
7.
Mr. Chow
7.
7.
Soleá
7.
7.
The Dutch
7.
7.
Paris 6
7.
8.
Moreno’s Cuba
8.
9.
Bâoli Miami
9.
10. Sylvano’s Restaurant
10.
11. Nobu Miami Beach
11.
12. 1826 Restaurant & Lounge
12.
13. Restaurant Michael Schwartz
13.
14. Cleo South Beach
14.
15. Ola
15.
16. Pied à Terre
16.
17. Casa Tua Restaurant
17.
18. Miami City Ballet
18.
19. Bass Museum of Art
19.
20. New World Symphony
20.
PROPERTY FEATURES Waterfront restaurant opportunities ranging from 1,467 – 2,362 SF Located in the heart of Miami Beach at the epicenter of the Art Deco Quarter Ideally positioned on the highly trafficked intersection of Park Avenue and 22nd Street Renowned Kobi Karp designed building Minutes from the beach, world class galleries, museums, and the Miami Beach Convention Center
43
16867 nw 67th avenue, miami lakes
44
PROPERTY FEATURES Strong mix of local and national tenants with many in the top 10% nationwide 2nd generation restaurant outparcel available One of the highest grossing stores in the Navarro chain New multi-tenant outparcel opportunities available Join Navarro Pharmacy, Skechers, Boston Market, and McDonald’s Pylon signage available
45
11325 south dixie highway, pinecrest
46
PROPERTY FEATURES Located on 91,000 car-a-day US-1 between two landmark regional malls, Dadeland Mall and The Falls Outstanding sales performance with several tenants reporting sales approaching $1,000 per square foot Several restaurant opportunities available Services the county’s most affluent neighborhoods of Pinecrest and Palmetto Bay (average HHI over $120K) Originally built in 1955, Suniland Shopping Center stands as the Heart of Pinecrest
47
broward & palm beach county
48
49
1405 south federal hwy, pompano beach
50
PROPERTY FEATURES Publix, Marshalls, and Office Depot anchored center located on the NW corner of Federal Highway and McNab Road Average HH income of $67,769 in one-mile radius Great street traffic with over 55,000 cars daily Daytime population of more than 57,942 people in 3-mile radius
51
5030 Champion Blvd, Boca Raton
52
PROPERTY FEATURES Grocery-anchored shopping center in Boca Raton on the prime intersection of Military Trail and Champion Boulevard, located at the entrance of The Polo Club High performing Publix boasting strong annual sales with adjacent liquor store and first Palm Beach County cooking school concept Steps away from regional and global corporate headquarter campuses Join Pet Supermarket, Too Jay’s, Phenix Salon Suites, Hair Cuttery, Chase Bank, and many more!
53
9789 glades road, boca raton
54
PROPERTY FEATURES Bed Bath & Beyond, Old Navy, and SteinMart anchored center in west Boca Raton 220,426 SF retail center located at the northeast corner of the most desirable retail intersection (US441 & Glades Road) in Palm Beach County Great visibility (82,500 cars passing daily) Local population of over 180,000 with an average household income of over $82,000
55
701 village blvd, west palm beach
56
PROPERTY FEATURES Renovated high performing Publix anchored community center in the heart of West Palm Beach 2nd generation restaurant space available for immediate occupancy Property upgrades include new roof, lighting, and signage, parking lot resurfacing and striping, new paint and landscaping Adjacent to Keiser University slated to increase student count to 3,000 Join Duffy’s, Panera Break, Massage Envy, PNC Bank and many more.
57
5320 norwood avenue, jacksonville
58
PROPERTY FEATURES Property upgrades, totaling over $1 million, include new paint, landscaping and parking lot seal & stripe Join national tenants Publix, Walgreens, YouFit Health Club, Family Dollar and more One of Jacksonville’s busiest bus hubs with over 400,000 riders annually Well located on Norwood Avenue, accessibility and visibility from I-95
59
1674 Meridian Avenue miami beach, fl 33139
1688 Meridian Avenue miami beach, fl 33139
801 41st street miami beach, fl 33140
PROPERTY FEATURES
PROPERTY FEATURES
PROPERTY FEATURES
350 to 10,000 SF offices available
350 to 10,000 SF offices available
1,000 SF offices available
Prime Miami Beach location one block from Lincoln Road, City Hall, and the Miami Beach Convention Center
Prime Miami Beach location one block from Lincoln Road, City Hall, and the Miami Beach Convention Center
Prime Miami Beach location at the on/off ramp of I-195, a primary transit artery to I-95 and 112 Expressway
Full floors available
Originally designed by renowned architect Morris Lapidus, who also designed Lincoln Road, Eden Roc, and Fontainebleau Hotel
On-site parking and additional city metered parking
Biometric fingerprint reader for secure access Brand new lobby
Full floors available, including a penthousewith amazing views
Building signage available Unlimited dining options on Lincoln Road
Biometric fingerprint reader for secure access New bathrooms and updated common areas
60
Biometric fingerprint reader for secure access On-site property management, leasing and security Unobstructed views of Biscayne Bay and Downtown Miami
On-site parking
Easy access to Downtown Miami, South Beach, the Design District and Mount Sinai Hospital
Unlimited dining options on Lincoln Road
Walking distance to numerous restaurants, banks and markets
Office spaces
220 Miracle Mile, Coral Gables, FL 33134
PROPERTY FEATURES 340 to 4,142 SF offices available The best location in Coral Gables on corner of Miracle Mile and Ponce De Leon Blvd Recently renovated bathrooms and common areas with new roof and elevator A preferred destination for professionals with restaurants such as Hillstone, Starbucks, Tarpon Bend, Fleming’s, Morton’s, Swine, and Sushi Samba just steps away Ample metered, valet and municipal garage parking adjacent to location Immediate “move-in” availability
61
www.50eggsinc.com
www.sakayakitchen.com www.midtownchinese.com
site CRITERIA
site CRITERIA
Territory: Miami-Dade, Broward and Palm Beach counties
Territory: Looking for a 2nd generation restaurant space across Miami-Dade County
Developments: Shopping center endcap, free-standing, urban retail Space Considered: Prefer endcaps or free-standing, but will consider in-line with high visibility Population Density: 150,000 people within a 3 mile radius Size: 3,000 to 5,000 SF plus outdoor seating
62
Space Considered: Endcap or outparcel preferred, will consider highly visible in-line locations Outdoor seating Size: 2,000 – 2,500 SF
tenANT REPRESENTATION
www.amazinglashstudio.com
www.cherryblowdrybar.com
site CRITERIA
site CRITERIA
Territory: Brickell, South Miami, Coral Gables, and Miami Beach
Territory: Miami Beach, Midtown, South Miami, Coral Gables, Aventura and Brickell areas
Space Considered: Looking for locations with affluent female population Co-tenants: Massage, nails, waxing, beauty tenants
FRONTAGE: 20 feet preferred Locations with strong daytime and nighttime populations Size: 1,200 to 1,600 SF
Size: +/- 2,000 SF
63
Joint Ventures Terranova provides due diligence expertise and market knowledge on the acquisition of valuable real estate assets. In one of the largest deals in South Florida history, Terranova acquired six Lincoln Road buildings for $342 million, forming a unique portfolio of enduring generational value. The transaction, completed in 2014, represented a core acquisition with a value-add element of immediate development potential. Two of the properties are already in development and will deliver new buildings of unique architectural interest, with 2nd and 3rd floor flagship retailers, while modernizing the valuable ground floor retail space. A 3rd building has received approval for expansions enabling the accomodation of new flagship retailer opportunity.
64
Acquisitions
Size:
$20 million + or smaller if additions to existing portfolio
Location:
U.S. - Urban markets
Property Type:
Retail - High Street Retail, Urban Retail, Lifestyle centers, Redevelopments, Office, Multifamily, Industrial, Land – Will consider in Core location
Value-Added Strategies:
• Strategic leasing approach • Asset repositioning/rehabilitations • Strategic capital investments • Implementation of cost reduction programs • Pre-leased development
Structure:
• Portfolios or single assets • Property or partnership recapitalizations • Outright acquisitions or joint ventures • Equity capital • Note purchases
65
66
RETAILER MAP
Terranova Properties = 67
68
69
executive profiles
STEPHEN H. BITTEL Stephen H. Bittel is the Chairman and founder (1980) of Terranova Corporation, leading a team of professionals in the ownership and operation of a commercial real estate portfolio valued at nearly $1.0 billion; graduated magna cum laude from Bowdoin College, 1978; law degree from the University of Miami School of Law, 1982; founded Petroleum Realty Investment Partners in 1999; has chaired and/or served on the ICSC Open Air Centers Conference, ICSC Capital Marketplace Program and the ICSC Florida Conference. A Miami native, Bittel has been a member of the Florida Bar Association, the Mortgage Bankers Association, the Young Presidents Organization (past Chair of the Miami Chapter and the YPO Real Estate Round Table, and past Co-Chair of the Miami Chapter of WPO); served as Director on the Boards of the Community Partnership for the Homeless, the Miami-Dade Expressway Authority, the Jackson Memorial Hospital Foundation, and the Boards or four public companies; served as Trustee member for the Greater Miami Chamber of Commerce, United Way of Miami-Dade and Temple Beth Am; has written numerous articles on real estate matters and spoken at professional conferences throughout the United States and Europe; in 2005 was awarded the South Florida Business Journal “Ultimate CEO” award. Bittel is a Board member and a Vice Chairman of Development of the National Jewish Democratic Council; has led the Greater Miami Jewish Federation’s Washington Mission in 2009 and 2010; and is an At-Large member of the Democratic National Committee, serving on the Rules and Bylaws Committee. Bittel currently serves on the Board of Teach for America Miami (TFA).
MINDY MCILROY As Terranova’s executive vice president, McIlroy oversees leasing, marketing and new business development for the company’s diverse retail portfolio, and has led the company’s strategy through its foray into mixed-use and High Street retail. With a track record of nearly a billion dollars in retail leasing deals, McIlroy’s expertise spans a wide gamut of retail properties, from suburban shopping centers to lifestyle entertainment centers to urban retail and mixed-use projects. She is a founding member of the Lincoln Road Property Owners Association; president of the Coral Gables Business Improvement District; board member of the National Parkinson Foundation and chairwoman of the Moving Day® Miami Committee. She has been ranked by CoStar as a Power Broker – Top Broker; acknowledged by the Coral Gables Chamber of Commerce as 2015 AXA Advisors Businesswoman of the Year finalist; and recognized in 2015 by Real Estate Forum as a Southeast Woman of Influence.
70
Terranova Corporation leasing office 801 W 41st Street, Suite 600, Miami Beach, Florida 33140 leasing@terranovacorp.com 305.695.8700
Chairman: Stephen h. bittel sbittel@terranovacorp.com 305.779.8950 Executive Vice President: Mindy McIlroy mmcilroy@terranovacorp.com 305.779.8970 Director of Acquisitions: Andrea Molina amolina@terranovacorp.com 305.779.8925 Senior Commercial Associate: Andrei Pintilie apintilie@terranovacorp.com 305.779.8903 Commercial Associates: elizabeth higgins ehiggins@terranovacorp.com 305.779.8906 India Turkell iturkell@terranovacorp.com 305.779.8908 Karen Maerovitz kmaerovitz@terranovacorp.com 305.779.8907 vanessa francis vfrancis@terranovacorp.com 305.779.8934 Michael nathanson mnathanson@terranovacorp.com 305.779.8961
terranova property listing I Fall/winter 2015 contains all of the company’s listings at the time of publication. Please visit www.terranovacorp.com for an updated list of our property listings.
71
72