TERRANOVA’S PORTFOLIO WINTER 2017
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Terranova Properties = 3
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. 4
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terranova properties high Street Retail LINCOLN ROAD 06 600 LINCOLN ROAD 08 719-737 LINCOLN ROAD 14 741-749 LINCOLN ROAD 18 801-821 LINCOLN ROAD 22 826-836 LINCOLN ROAD 26 723 LINCOLN LANE 30 1654 meridian ave 32 collins ave collection 34 727 collins avenue 36 736 collins avenue 40 749-755 washington avenue 42 755 washington ave redevelopment 42 MIRACLE MILE 46 135 MIRACLE MILE 48 200-230 MIRACLE MILE 52 247 MIRACLE MILE 56 257-263 MIRACLE MILE 58 360 MIRACLE MILE 62
suburban portfolio country club PLAZA 66 PALM PLAZA 68 POLO CLUB SHOPPES 70 SHADOWWOOD SQUARE 72 VILLAGE COMMONS 74 220 miracle mile OFFICE SPACES 76 ACQUISITIONS 78 EXECUTIVE PROFILES 80 CONTACT INFORMATION 81 5
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lincoln road Shared History... Leading Vision
You want to be in that destination where retail takes on a fresh hue, a vibrant look, an edgy flair. You want to be on the street where millions of people go to see and be seen, flanked by world trends along the most dynamic shopping and dining scene in the country. Others try to emulate it. There is only one original, Lincoln Road Let us show you the street that embraces history and innovation, culture and environment, local and global. Where bright sunlight is a year-round feature. Where a warm city opens its unique sights and sounds to the world, and the world shows up.
Let us show you Lincoln Road PROPERTY FEATURES Lincoln Road is where the best gets better. Where top retailers take it one step further and bigger. • Top retail street in North America • An eight-block showcase of fashion, food and culture • 6+ million tourists strolling along Lincoln Road annually • Flagship stores from top worldwide retailers • Exceeding sales of $1,000 per square foot
neighboring tenants
7
600
lincoln road miami beach
8
9
600 lincoln road - floor plans
2,500-7,000 sf
600 lincoln road
10
604 lincoln road
606 lincoln road
608 lincoln road
612 lincoln road 11
1624-1630 pennsylvania ave - floor plans
10,720 sf
600 lincoln road, 2nd floor 12
1,500-2,500 sf
1,031 sf
1624 penn ave 13
719-737
lincoln road miami beach
14
15
719-737 lincoln road - floor plans
mezzanine
1,825 sf
4,038 sf
727 lincoln road 16
mezzanine
879 sf
3,478 sf
719 lincoln road 17
741-749
lincoln road miami beach
18
19
20
741 lincoln road - floor plans
mezzanine
1,545 sf
4,065 sf
1661 meridian ave 21
801-821
lincoln road miami beach
22
23
801-821 lincoln road - floor plans
1,455 sf
811 lincoln road 24
1,673 sf
815 lincoln road
1,558 sf
817 lincoln road 25
826-836
lincoln road miami beach
26
27
28
826-838 lincoln road - floor plans
1,273 sf
828 lincoln road 29
723
lincoln lane miami beach
30 22
GROUND FLOOR
MERIDIAN AVENUE
EATERY
N. LINCOLN LANE
MACY'S
MERIDIAN AVENUE
ROOFTOP
N. LINCOLN LANE
31
1654
meridian ave miami beach
32
ground floor
ROOFTOP
33
collins avenue collection Distinctive Destinations, Signature Style
Coast into the Collins Avenue Collection for worldclass shopping and dining in Miami’s distinctive South Beach neighborhood. Located on Collins and Washington Avenues between 7th and 8th Streets, just blocks from the South Beach boardwalk, Collins Avenue Collection offers cosmopolitan character and modern convenience in an internationally renowned beachfront setting.
Let us show you SIGNATURE SOUTH BEACH STYLE 34
PROPERTY FEATURES Collins Avenue Collection offers cosmopolitan character and modern convenience in an internationally renowned beachfront setting.
• Renowned destination for dining, diverse nightlife, best in class shopping, and signature art-deco architecture • Exceptional and growing retail market supported by proximity to beachfront/Ocean P Drive andTH large concentration of hotel, entertainment uses, and parking facilities 1 0 ST
ART DECO DISTRICT
953
944 952 960
• Proven retail district home THE toVISC an extensive line-up of internationally acclaimed AY HOTEL EDWARDS APTS fashion retailers THELOFT HOTEL
900 91 0 920
901 909 919A 919C 929
832 844 852 860
800 808-820 826
BLUEMOON H OTEL • Hosting 75.2% of the 15.5 million tourists thatRENvisit greater OVATED 2-STORY RE TAIL Miami HOTEL / RESIDENTIAL HOTEL
LOVE 21
neighboring area STARDUST APTS
HISTORICCORAL HOUSE - FUTURERETAIL
ATTITUTE SOBE / TIQUE
THE VITRINE - FUTURE 3-STORY RE TAIL SHERBROO KE HOTEL
BANANA REPUBLIC
AVAILABLE CONDOS
H&M
THE LEON HOTEL THE LILY HOTEL
THE HOTEL OF COLLINS
BDBA FREE PEOPLE TRUE RELIGION UGG VICOMTE A INTERMIX CLUB MONACO TOMMY HILFIGER MET SIMON’S L’IMPASSE
700
745
CHARMING CHARLIE
GAP
LONDON ARMS SEPHORA CONDOS CONDOS
M.A.C.
OCE AN DRI VE
SASSON SALON
VICTORIA SECRET
701 713 721 727 735
VANS DASH
ALDO
645 653 673 673B 673 673
P
COL L I NS AVENUE
7 TH ST
WASH INGTON AVE
CONDOS PUERTO SAGUA RESTAURANT
600 604 61 0 614 624 634 638 640 644 650 656 660 666 670
GUESS
720
736
AVAILABLE
SUNGLASS HUT NINE WEST FIT 2 RUN SURF STYLE METROPOLE HOTEL
601 615 635
ARMANI EXCHANGE 8TH & WASHINGTON BEACH BUNNY
740 750 760
8 TH ST
B EA CH
AIRBRUSH TAN / LEVI’S STORE POSH HOSTEL / VAPORSHARK
THE CHESTERFIELD HOTEL
L U M U S P A RK
AVAILABLE
835 841 855 865A
HOTEL SHELLEY
LUXODYA / LOCAL CONVIENIENCE RETAIL
825
RETAIL RENOVATION
801 821
GROUND RETAIL / HOTEL FRANKLIN
751 763
9 TH ST
STEVEN MADDEN DADE COUNTY HEALTH DEPT. LOCAL CONVENIENCE RETAIL
OWNED BY JAMESTOWN
SABRINA MONTE CARLO EQUINOX
P
TD BANK
533
P
MIAMI BEACH CITY HALL
501
6TH ST
500 520 530 540 550-560 590
RESIDENTIAL / HOTELS ZARA
WALGREENS
35
727
collins ave miami beach
38 36
4,856 sf
727 collins ave 37
727 collins ave - redevelopment
4,183 sf Artist rendering of 727 Coillins retail redevelopment
38
727 collins ave retail
3,472 sf
1,215 sf Artist rendering of 727 Coillins restaurant redevelopment
727 collins ave restaruant
39
736
collins ave miami beach
38 40
UP DN DN
4,860 sf
4,322 sf
1st floor
2nd floor UP UP DN
UP
736 collins ave 41
749-755
washington ave miami beach
42
1,600 sf
749 washington
1,100 sf
753 washington ave 43
755
washington ave miami beach
44
Artist rendering of 755 Washington Ave redevelopment
proposed
third floor
hotel lobby
8th street
proposed hotel
f i r s t f l o o r + / -10 , 51 5 s f
second floor proposed hotel
retail and/or
restaurant
alley All measurements are subject to change.
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miracle mile
Naturally and Artfully Enchanting There is a destination where work meets culture and enterprise meets inspiration. Where the texture of everyday life is richer. That destination is Coral Gables -- a city that was designed in grand style by its inhabiting founders, who believed urban environments should enhance human activity. That’s why when you’re in Coral Gables, your mind begins to lift from the ordinary, while your feet pursue well-grounded possibilities. You walk, because this is a city made for walking. You feel charged with the beauty of this environment. You come upon a fountain or a historic entrance. Life is enchanting, this city reminds you. Miracle Mile, Coral Gables’ historic Main Street, where sophistication is natural, elegance is easy, and history reaches into the present. On Miracle Mile, you take in the modern flow of a main corridor that connects to everything. Let us show you the place where dreams flourish and reality keeps up.
Let us show you Miracle Mile 46
PROPERTY FEATURES Miracle Mile is the center of a unique city with uncommon appeal. • A four-block pedestrian friendly east-west artery traversing the business district, where 50,000 professionals come to work every day. • 3 + million tourists strolling along Miracle Mile and its surroundings annually. • F lanked by a high-end business district that includes national and regional headquarters of nearly 200 major American, European and Latin American companies. • $1+ billion in annual retail expenditure in the Mile’s 33134 zip code. • Trendy restaurants that make it a breakfast, lunch and dinner destination, offering the entire range from casual cafe to fusion cuisine. • B ackdrop of popular community events, such as the monthly Gallery Night and the annual Coral Gables Wine & Food Festival.
neighboring tenants
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135-137
miracle mile coral gables
48
MIRACLE MILE
49
50
135 MIRACLE MILE - floor plans
1,927 sf
135 miracle mile 51
200-230
miracle mile coral gables
52
BREEZEWAY
PONCE DE LEON BLVD
ALLEYWAY
MIRACLE MILE
53
54
224 MIRACLE MILE - floor plans
PARKING GARAGE
BREEZEWAY
ALLEYWAY
378 sf
224 MIRACLE MILE
N. LINCOLN LANE
55
245-247
miracle mile coral gables
56
DW
OFFICE
245 2nd floor MIRACLE MILE 2ND FLOOR 1,510 sf
1,510 SF
EXISTING OFFICE (1ST FLOOR SPACE)
OPEN TO BELOW
DW
MECH. ROOM (1ST FLOOR SPACE)
ENTRANCE ON MIRACLE MILE
245 miracle mile 57
257-263
miracle mile coral gables
58
MIRACLE MILE
59
257-263 MIRACLE MILE - floor plans
mezzanine
1,775 sf
257 miracle mile 60
mezzanine
414 sf (not included in leaseable sF)
1,686 sf
259 miracle mile 61
360
miracle mile coral gables
62
2,760 sf
360 miracle mile 63
suburban portfolio
Maximizing the Value of Business Through Real Estate 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.
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65
18496 NW 67th Avenue, miami
Trade Area Aerial Map
NEIGH
2016 Esti
2021 Proj
Populatio 2021)
2016 Hou
Average H
% Owned Units
Median A Daytime
% Hispan
66
PROPERTY FEATURES Country Club Plaza is located in the vibrant and business-rich community of Miami Located in the heart of a high-density retail and residential environment within an established area of other major retailers (SWC of NW 67th Ave. & NW 186th St.) Country Club Plaza dominates the immediate trade area and is the preferred shopping destination for the community Close proximity to several major express ways, large multilingual workforce and an abundance of affordable housing Excellent street exposure and a steady flow of foot and vehicular traffic
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16867 nw 67th avenue, miami lakes
1 PROPOSED ELEVATION SCALE: NTS
Artist rendering of new outparcel opportunity
2 PROPOSED ELEVATION
PROPOSED COLOR ELEVATIONS
SCALE: NTS
A-0.0
68
PROPERTY FEATURES Strong mix of local and national tenants with many in the top 10% nationwide Healthly balance of daytime & nighttime traffic One of the highest grossing stores in the Navarro chain New outparcel opportunities available Join Navarro Pharmacy, Skechers, Boston Market, and McDonald’s Pylon signage available
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5030 Champion Blvd, Boca Raton
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PROPERTY FEATURES High performing Publix-anchored neighborhood center located in Boca Raton at the entrance of The Polo Club Strong daytime population with 17.4 million SF of office space (including Office Depot Headquarters just south of the property) and more than 55,000 employees in the area Servicing the surrounding affluent community with average HH income of $111K within two-mile radius Diverse tenant mix with large restaurant component (11 restaurants representing 20% of the GLA) to serve residents and employment base Center benefits from stable legacy tenants with significant operating history in the center
71
9789 glades road, boca raton
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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
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701 village blvd, west palm beach
Artist rendering of restaurant opportunity
VILLAGE COMMONS
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SUITE 601 - SPLIT TENANTS
ENTRY
12/10/2015
J A M E S T O W N C R E AT I V E A R C H I T E C T U R E D E PA R T M E N T
7
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 Bread, BrassTap, Massage Envy, PNC Bank and many more.
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220 miracle mile offices, coral gables
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PROPERTY FEATURES 482 SF to 5,682 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 Ample metered, valet and municipal garage parking adjacent to location Immediate “move-in� availability
2nd floor - total office space 21,561 rsf
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Joint Ventures Terranova co-invests with Institutional partners, providing due diligence expertise and market knowledge on the acquisition, development, and management of valuable real estate assets. As a case study, in 2014, Terranova acquired six Lincoln Road buildings for $342 million, forming a unique portfolio of enduring generational value. The transaction represented a core acquisition with a valueadd element of immediate development potential. The redevelopment of two buildings was completed in 2017. These new buildings are of unique architectural interest, with 2nd and 3rd floor flagship locations for Marshalls and Anthropology, and a modernized ground floor retail space incorporating both traditional retail and a food hall. Terranova partnered with a multi-billion dollar open-ended fund in this transaction, with the shared goal of a long term hold.
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Acquisitions
Size:
$20 million +
Location:
Entire U.S. - Urban markets
Property Type:
-Retail: High Street Retail, Urban Retail, Anchored Retail, Lifestyle centers, Redevelopments -Office, Multifamily, Industrial, Land – 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 • Outright acquisitions or joint ventures • Property or partnership recapitalizations • Equity capital • Note purchases
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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 of 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; and has led the Greater Miami Jewish Federation’s Washington Mission in 2009 and 2010. Bittel currently serves on the Board of Teach for America Miami (TFA).
MINDY MCILROY While commercial real estate is highly competitive, success requires dedicated attention, creative insight, and community connection. Mindy McIlroy brings these qualities to her role as Terranova’s executive vice president where she oversees leasing, marketing and new business development for the company’s diverse retail portfolio always with an eye towards innovation and opportunity. Her approach is strongly centered on producing long-term returns despite an ever-changing landscape. To that end, McIlroy employs more than 20 years and nearly a billion dollars in retail leasing deals across a gamut of retail properties to direct strategic decisions. Her broad expertise ranges from suburban shopping centers to lifestyle entertainment centers to urban retail and mixed-use projects. This widely varied field of experience also played a pivotal role in McIlroy successfully leading the company through its foray into mixed-use and High Street retail.
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Beyond a strong commitment to the fundamentals of profitable commercial real estate, McIlroy believes strongly in the power of networking and civic involvement. She is a founding member of the Lincoln Road Property Owners Association; served as president of the Coral Gables Business Improvement District in 2015 and 2016; and is currently a board member of the National Parkinson Foundation and Coral Gables Business Improvement District. She has been ranked by CoStar as a Power Broker – Top Broker; acknowledged in 2015 by Real Estate Forum as a Southeast Woman of Influence; and recognized by the Coral Gables Chamber of Commerce as the 2016 AXA Advisors Businesswoman of the Year.
Terranova Corporation leasing office 801 Arthur Godfrey Road, 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 Leasing Director: DENISE LEYENDECKER dleyendecker@terranovacorp.com 305.695.8700 Commercial Associates: elizabeth higgins ehiggins@terranovacorp.com 305.779.8906 Karen Maerovitz kmaerovitz@terranovacorp.com 305.779.8907 vanessa francis vfrancis@terranovacorp.com 305.779.8934 david rohr drohr@terranovacorp.com 305.779.8922
terranova property listing I winter 2017 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. 81
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