TERRANOVA’S PORTFOLIO FALL/WINTER 2016
PROJECT #: 219420194
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RETAILER MAP
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 34 collins ave collection 38 MIRACLE MILE 42 135 MIRACLE MILE 44 200-230 MIRACLE MILE 48 257-263 MIRACLE MILE 52 360 MIRACLE MILE 56
suburban portfolio 1836 BISC AYNE 60 PALM PLAZA 62 POMPANO PLAZA 64 POLO CLUB SHOPPES 66 SHADOWWOOD SQUARE 68 VILLAGE COMMONS 70 OFFICE SPACES 72 ACQUISITIONS 74 EXECUTIVE PROFILES 76 CONTACT INFORMATION 77 5
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.
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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 3
600
lincoln road miami beach
8
9
600 lincoln road - floor plans
748 sf 1,148 sf
608 lincoln road 10
610 lincoln road
10,720 sf
600 lincoln road, 2nd floor 11
17’-7”
1,401 sf
1624 penn ave 12
17’-7”
17’-10”
55’-3”
55’-3”
58’-11”
66’-1”
58’-11”
1624-1630 pennsylvania ave - floor plans
66’-1”
17’-10”
1,265 sf
1626 penn ave
14’-4”
14’-4”
17’-10”
55’-3”
55’-3”
58’-11”
58’-11”
66’-1”
17’-10” 17’-7”
14’-4”
1,031 sf
1628 penn ave
14’-4”
839 sf
1630 penn ave 13
719-737
lincoln road miami beach
14
15
719-737 lincoln road - floor plans
mezzanine
957 sf
2,668 sf
737 lincoln road 16
mezzanine
1,825 sf
mezzanine
695 sf
4,038 sf
727 lincoln road
721 lincoln road 17
741
lincoln road miami beach
18
19
741 lincoln road - floor plans
mezzanine
443 sf
2,345 sf
LINCOLN LANE 1655 N.meridian ave
20
mezzanine
1,545 sf
4,065 sf
1661 meridian ave 21
801-821
lincoln road miami beach
22
UP
UP
UP
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801-821 lincoln road - floor plans
1,661 sf
811 lincoln road 24
1,661 sf
815 lincoln road
1,547 sf
817 lincoln road 25
826-838
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
Artist rendering of 723 Lincoln Lane SW corner
Artist rendering of eatery at 723 N. Lincoln Lane
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723 lincoln lane - floor plans
GROUND FLOOR (option 1)
MERIDIAN AVENUE
RETAIL/RESTAURANT
12,000 SF
N. LINCOLN LANE
EATERY
GROUND FLOOR (option 2)
MERIDIAN AVENUE
FIRE PUMP
SERVICE CORRIDOR
730 SF 576 SF 610 SF 630 SF
700 SF
768 SF
STORAGE / JANITOR 220 SF
436 SF
325 SF
N. LINCOLN LANE 32
Artist rendering of rooftop at 723 N. Lincoln Lane
MACY'S
MERIDIAN AVENUE
ROOFTOP
866 SF
N. LINCOLN LANE
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1654
meridian ave miami beach
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Artist rendering of 1654 Meridian Ave NE corner
Artist rendering of 1654 Meridian Ave view from Lincoln Road
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1654 meridian ave - floor plans
Artist rendering of 1654 Meridian Avenue rooftop restaurant concept
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GROUND FLOOR
available 2,410 sf
celing height 14’-6”
ROOFTOP
available 5,366 sf
roof deck 4,214 sf
celing height 14’-6”
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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 38
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 10
ST
ART DECO DISTRICT
953
944 952 960
• Proven retail district homeTHEto anHOTEL extensive line-up of internationally acclaimed VISCAY EDWARDS APTS fashion retailers THE LOFT HOTEL
900 910 920
901 909 919A 919C 929
832 844 852 860 800 808-820 826
• Hosting 75.2% of the 15.5BLUEMOON millionHOTEL tourists thatRENOVATED visit greater Miami 2-STORY RETAIL8,500 SF HOTEL / RESIDENTIAL HOTEL
LOVE 21
neighboring area STARDUST APTS
HISTORIC CORAL HOUSE- FUTURE RETAIL - 7,443 SF
ATTITUTE SOBE / TIQUE
THE VITRINE - FUTURE 3-STORY RETAIL - 9,350 SF SHERBROOKE HOTEL
BANANA REPUBLIC
AVAILABLE- 10,350 SF CONDOS
H&M
THE LEON HOTEL THE LILLY HOTEL
THE HOTEL OF COLLINS
FREE PEOPLE TRUE RELIGION UGG VICOMTE A INTERMIX CLUB MONACO TOMMY HILFIGER MET SIMON’S WET SEAL
700
745
FUTURE 3-STORY RETAIL - 14,260 SF
GAP
LONDON ARMS SEPHORA CONDOS CONDOS
M.A.C.
OC EAN D RI VE
SASSON SALON
VICTORIA’S SECRET
701 713 721 727 735
VANS DASH
ALDO
645 653 673 673B 673 673
P
COLLINS AVENUE
7 TH ST
WAS H I NG TO N AVE
CONDOS PUERTO SAGUA RESTAURANT
600 604 610 614 624 634 638 640 644 650 656 660 666 670
GUESS
720
736
QUICKSILVER
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
BEACH
AIRBRUSH TAN / LEVI’S STORE POSH HOSTEL / VAPORSHARK
THE CHESTERFIELD HOTEL
LUMUS PARK
AVAILABLE - 9,377 SF
835 841 855 865A
HOTEL SHELLEY
LUXODYA / LOCAL CONVENIENCE RETAIL
825
RETAIL RENOVATION - 11,472 SF
801 821
GROUND RETAIL / HOTEL FRANKLIN
751 763
9 TH ST
STEVEN MADDEN DADE COUNTY HEALTH DEPARTMENT LOCAL CONVENIENCE RETAIL
OWNED BY JAMESTOWN
MANGO
SABRINA MONTE CARLO EQUINOX
P
TD BANK
533
P
MIAMI BEACH CITY HALL
501
6TH S T
500 520 530 540 550-560 590
RESIDENTIAL / HOTELS ZARA
WALGREENS
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collins ave collection - floor plans
4,856 sf
727 collins ave 40
1,100 sf 1,600 sf
749 washington
753 washington ave 41
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 42
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
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MIRACLE MILE
45
46
135-137 MIRACLE MILE - floor plans
1,927 sf
135 miracle mile 47
200-230
miracle mile coral gables
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BREEZEWAY
PONCE DE LEON BLVD
ALLEYWAY
under contract
MIRACLE MILE
49
50
200-230 MIRACLE MILE - floor plans
PARKING GARAGE
BREEZEWAY
ALLEYWAY
378 sf
224 MIRACLE MILE
N. LINCOLN LANE
51
257-263
miracle mile coral gables
52
MIRACLE MILE
53
54
257-263 MIRACLE MILE - floor plans
mezzanine
414 sf
1,686 sf
259 miracle mile 55
360
miracle mile coral gables
56
2,760 sf
360 miracle mile 57
1836 BISCAYNE BLVD ICONIC RETAIL SPACE IN THE EDGEWATER DISTRICT IN MIAMI
PROPERTY FEATURES • Prime retail space available at the SW corner of NE 19th Street and Biscayne Blvd • Opportunities starting at 14,750 SF • Historic landmark—Adaptive Reuse opportunity located on Biscayne Blvd in the Edgewater District • Abundant & dedicated parking available on-site • Approx. 6,000 new residential units under construction in the immediate area
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RETAIL
BISCAYNE BLVD
NE 19TH STREET
MEZZANINE
STORAGE
EXISTING BASEMENT
GROUND LEVEL - 14,750 SF
RETAIL/ CAFE
BASEMENT LEVEL - 14,035 SF
MEZZANINE LEVEL - 3,500 SF 59
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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16867 nw 67th avenue, miami lakes
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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 multi-tenant outparcel opportunities available Join Navarro Pharmacy, Skechers, Boston Market, and McDonald’s Pylon signage available
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1405 s. federal hwy, pompano beach
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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
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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 (12 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
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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
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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.
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801 arthur godfrey road, miami beach PROPERTY FEATURES 1,675 SF office available Prime Miami Beach location at the on/off ramp of I-195, a primary transit artery to I-95 and 112 Expressway On-site parking and additional city metered parking Biometric fingerprint reader for secure access On-site property management, leasing and security Unobstructed views of Biscayne Bay and Downtown Miami
2nd floor
Easy access to Downtown Miami, South Beach, the Design District and Mount Sinai Hospital Walking distance to numerous restaurants, banks and markets
3rd floor
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Office spaces
220 miracle mile, coral gables PROPERTY FEATURES 271 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 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
2nd floor - total office space 21,561 rsf
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Joint Ventures Terranova provides due diligence expertise and market knowledge on the acquisition 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 value-add element of immediate development potential. The redevelopment of two buildings will be completed in late 2016. 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. 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 + 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
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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 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 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 17 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. 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; president of the Coral Gables Business Improvement District; and board member of the National Parkinson Foundation. She has been ranked by CoStar as a Power Broker – Top Broker; acknowledged by the Coral Gables Chamber of Commerce as 2016 AXA Advisors Businesswoman of the Year; and recognized in 2015 by Real Estate Forum as a Southeast Woman of Influence.
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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
terranova property listing I FALL/WINTER 2016 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.
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CORAL GABLES CITY HALL
4.5 MILES NORTH TO MIAMI INT’L AIRPORT
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(353 PARKING SPACES)
TERRANOVA PROPERTIES PARKING
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VALET
Last Modified: 04/2016
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1.4 MILES SOUTH TO VILLAGE OF MERRICK PARK
RETAILER MAP
4.4 MILES EAST TO BRICKELL AREA
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