Tc_trendsmag_summer15 by Terranova Corp

W E’ VE ARRI VED LOCATED AT 832 LINCOLN ROAD

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contentS

main streets get makeovers

Miracle Mile in Coral Gables and Lincoln Road in Miami Beach

ten principles for building healthy places

A glass-half-full outlook

tenANT SPOTLIGHT

Miami and Beyond Taps Into the Craft Brewery Movement

27 big gains for small indy brewers

Goorin Bros. Keeping it Cool on Lincoln Road

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editor’s note

A movement is occurring in Miami that is transforming its once suburban inhabitants to urban city dwellers. This movement has brought with it various trends in the commercial real estate industry that are changing the structure of Miami’s metropolitan areas. New construction abounds, revamping Miami’s urban cores and really putting this city on the map as a modern, innovative, and interactive destination. Miami’s strong cultural roots connect people to the city as well as its most visited landmarks which years of use have left in a tired and uninviting state. Streets such as Miracle Mile and Lincoln Road are undergoing restorations allowing them to adapt to the way people want to live today without compromising their Miami flair which made them what they are. Terranova, being one of the largest property owners on both Lincoln Road and The Mile, has had the pleasure of being involved in both projects which have taken years of work to gain approval. We believe that as a company we have a responsibility to be proactive and make things happen for the communities we serve which is a large motivator behind our involvement in these projects.

The strong focus on these urban cores has led to another trend empowering locally sourced companies to make their mark on the growth of the city. Various businesses are coming onto the scene creating a vision of Miami that is synonymous with trendy pizzerias, local coffee roasters, and the strong presence of craft breweries. The attractiveness of these companies for both locals and visitors radiates a “buy-local philosophy” that is gaining popularity in the area. In this issue we aim to educate and inform in hopes that the information within will shed light on industry trends and provide insight into the benefits of restoring historic Miami main streets. For more information and future announcements please contact leasing@terranovacorp.com to be added to our mailing list.

Chairman/Publisher Stephen H. Bittel executive Vice President / Editor-in-Chief Mindy McIlroy managing Editor Rebecca DeVille Graphic Designer Michael Dorer Contributing writers Patricia Guarch Andrea Speedy Elisa Trujillo

publisher Terranova Corporation

advertisers Coral Gables BID Burgerliscious, Coral Gables Chamber Goorin Bros. Growing Small Teeni Kini Tumi Vintro

Mindy McIlroy Terranova Corporation 801 W 41st Street, Suite 600 Miami Beach, Florida 33140 305.695.8700 leasing@terranovacorp.com

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November 6th December 4th January 1st

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Giralda Avenue between Ponce de Leon and Galiano Street

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Main Streets Get Makeovers Why Lincoln Road and Miracle Mile’s Streetscape Plans Are Happening Now By Patricia Guarch

iami is investing in urban life . Two exciting makeover projects, on Miracle Mile and Lincoln Road, historically two of the city’s busiest and more important city streets, are set to break ground. Urbanity is back . For the first time in 100 years, cities are growing faster than suburb s. Here in Miami the trend is loud and clear: people want to be in walkable , city centers. They want to live close to where they work , they want to eat, sleep, work and play in the city’s core . TRENDS

main streets get makeovers

All over the country there is a return from the suburbs.

Millennials aren’t getting married in their early twenties and then racing to establish roots in the suburbs; they’re sticking around the urban core. In Miami, the patterns have followed - less and less young people are moving out west into Miami’s suburban areas. Instead, they’re demanding a base of housing in more urban areas, a connected layout in our city-centers and the baby-boomers are following. Baby-boomers are selling their suburban homes to be in the city where everything is happening and a night out is right outside their doors.

Miami Beach and Coral Gables are approving changes to these major streets because we need these updates so that people can live how they want to live today; more people, closer together, more connected to each other. “Both of these redevelopments are place-making,” says Mindy McIlroy, terranova’s executive vice president. “Everyone is sitting behind their computers and communicating electronically. It is important to create an environment to make people want to come out and communicate,” she says. These two streets, nearly identical in length, serve as community centers for catching up with neighbors, people watching, grabbing an ice cream and eating it quickly before it melts. They’re hubs of run-ins with old friends, happy-hour spots, and, of course, shopping. These are places for people to have an interruption from plugged-in lives and reconnect with their surroundings; they’re streets for people to come together. After the redesign, they’ll be more lush, more beautiful and more pedestrian friendly. There will be additional outdoor seating, a new wave of tenants and a space for families who just want to come and spend time together.

The Terranova Tie Leadership at Terranova has been involved in both of these projects. Terranova is one of the largest property owners on both Miracle Mile and Lincoln Road, which begs the question, why do they support these projects? The answer is two-fold: The first is obvious, it’s the answer to almost any question in the business world: money. “As a firm financially invested in this real estate, it’s our responsibility to maintain and improve value for ourselves and our partners,” says McIlroy. The second is less obvious and more altruistically motivated. McIlroy speaks for herself and Stephen 12

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H. Bittel, chairman and founder of Terranova, “both of us are very community oriented and this is home. We want to make sure that we aren’t sitting on the sidelines waiting for other people to make things happen. We want to make things happen.” On Lincoln Road, before the vision of a full streetscape project could become a reality, there was a need for a foundation to be put in place. This foundation was laid with the formation of the Lincoln Road Property Owners Association. This organization is made up of property owners who pushed the city leadership to request an RFP for a professional design firm to come in and re-envision what the future of Lincoln Road could be. Coral Gables’ project had a different set of hurdles to jump before the design process, and then the approval process, could begin - who would pay for Miracle Mile’s first-ever facelift? The idea has been floating around for years, the vision for a more-pedestrian friendly Downtown Coral Gables was clear, but the funding process was up in the air. The final agreement is a split down the middle between property owners and the city, an arrangement that Terranova leadership sees as a valuable long-term investment. It’s taken years of work but now both projects are primed to get started with two world-renowned design firms at the helm and a clear vision for merging design with function.

Coral Gables Continues Merrick’s Vision The City Beautiful, long-known for maintaining it’s founder, George Merrick’s, vision through strict zoning laws, has approved a wave of development projects. The $20 million Miracle Mile and Giralda streetscape project will have a huge impact on the city. These already pedestrian-dominant streets will be stylishly redesigned to put the pedestrian first. Coral Gables is far from a ghost town, the streets buzz daily with thousands of people who work in the multi-national companies headquartered in the area and residents who live nearby. But Coral Gables’ main artery, Miracle Mile, could use a quality of life upgrade to reflect how people are living in the City Beautiful today. “They have been talking about the streetscape project for twenty years under different names,” says Coral Gables Commissioner Patricia Keon. “Miracle Mile is considered our main street for the downtown and it has been in disrepair for a very long time. Our downtown should look as good as our neighborhoods.”

main streets get makeovers

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On Miracle Mile, the high“Our firm has been the largest property buildings where people come in and empty out at budget upgrade, now in owner on Miracle Mile for close to a night,” says Commissioner the last stages of planning and design, includes dozen years. So of course it’s important Keon. expanding the sidewalks for us to stay involved.” The project includes a to 23 feet (currently plan for Miracle Mile’s 15 1/2) for additional -Mindy McIlroy, Executive Vice President Terranova Corp. adjacent street, Giralda pedestrian space and Avenue. Once a month, room for outdoor dining by Giralda transforms into a pedestrian-only street for changing the parking to parallel in the four-block length Giralda Under The Stars, the popular block-party, between LeJeune and Douglas Plaza. The plans, from where restaurants add outdoor sidewalk seating, bars award-winning architecture and design firm Cooper, and live music floods the street. It’s not uncommon Robertson & Partners, jazzes up the thoroughfare’s to see young children dancing to the cover band look with stylish blue pavers, public art displays and a with their parents or grandparents, college students lush, shaded tree canopy for additional shade in the and professionals from the nearby office building all hot summer months. hanging out on Giralda for this monthly event. The new design will make it easy to convert the street into a “The downtown is an integral part of the city. It is there pedestrian-only strip by installing retractable bollards. to serve the residential part of the community as a Renderings from Cooper Robertson & Partners show place to work, shop and eat and enjoy their community a grid of suspended teardrop-shaped lights strung without having to go very far. There’s a real movement to make our downtown a very livable pedestrian across Giralda and a circular pattern of blue pavement. friendly, walkable vibrant place to be. Not just office

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main streets get makeovers

The Coral Gables streetscape project is an expansion of George Merrick’s vision for a thriving Downtown Coral Gables. An adopter of the City Beautiful Movement, Merrick saw the beauty in spaces to walk and talk, in greenery surrounding fountains and plazas. The City Beautiful Movement was a reaction to the unplanned, messy growth of cities in the late nineteenth century. It seems appropriate that today, in the wake of a similar shift back to the city, we take the time and effort to expand upon his vision for the city with a modern lens.

designed the original Lincoln Road, completed in 1960, along with the Fontainebleau, Eden Roc, the Deauville and many, many more iconic structures. In 2009 the Wall Street Journal ran a feature on Lapidus

Lincoln Road, The Living Room of South Beach Lincoln Road is one of the country’s most prominent streets; famous for its unique art deco architecture, crowded cafe scene, shopping and proximity to the beach, theater and music scene. Looks like Lincoln Road is about to get people talking again. Miami Beach has commissioned the esteemed landscape architecture firm James Corner Field Operations behind New York’s High Line, to re-envision Lincoln Road. James Corner Field Operations has unveiled a draft of the vision that includes hardscape changes, landscaping additions and, most significantly, closing Drexel Avenue to cars. The plans, unveiled in mid-June, expand on the water design features. James Corner Field Operations proposes adding central water features along the road on multiple blocks, including an oval fountain that can be turned off and used as a performance space and a long shallow pool along the four hundred block with a modern shade structure overhead. On the 600 block there’s an outdoor art exhibition space that looks and feels a bit like a take on the Wynwood Walls done in the style of Miami Modern. Throughout we see uniform sidewalks and nods to the original Morris Lapidus design’s signature Miami Modern balance between stark concrete minimalism and lush tropical landscaping. Lapidus was the mastermind architect behind much of what is considered the signature Miami Beach look. He

and Lincoln Road’s 50th birthday. They noted that Lincoln Road was the second outdoor pedestrian mall in the country (there was already one in Kalamazoo, Michigan). As Lapidus himself put it, “A car never bought anything.” But all this is just a first draft and we’re sure to see changes to the design as public opinion, preservationists and the city weigh in. Surely, the newly formed Lincoln Road Business Improvement District (BID) will have an opinion. The Lincoln Road BID, approved the last week of July, is a special tax district on Lincoln Road unifying the property owners in managing, marketing and making improvements to the street. By the end of the summer we should see a final design and movement to put the plans before the city commission.

Looking Forward “It’s time to make our public areas better,” says Stephen H. Bittel, the chairman and founder of Terranova. We’ve seen Lincoln Road ebb and flow faster than Miracle Mile. Over the past few years there’s been tremendous change to Lincoln Road - and fast. While Coral Gables’ image as an upscale shopping and

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dining street has been more steady, young people continue to move to this ever-popular area and the need for an update to match is clear. Bittel sums up the differences between the two projects, “Miracle Mile is going to create a new experience that hasn’t existed there before. The Cooper Robertson plans include a vision for robust cafe life for both sides of the street.” On Lincoln Road he says, “Lincoln Road needs to fix-up what’s already there. Lincoln Road’s cafes are what make the streets feel alive. Seven days a week people are sitting in those cafes and they are the life of those streets.”

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We know what people want and where they’re going. We know how people today are living and what they want to see from their cities. Now it’s time for those wants to be met and thankfully, our city officials are hearing them and responding. In just a few short years, we’ll see the future of Lincoln Road and Miracle Mile as the present.

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THE DATE

The Coral Gables Chamber of Commerce Presents:

BURGERLISCIOUS THURSDAY,

NOV. 5

Fred B. Hartnett / Ponce Circle Park

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www.burgerliscious.com

a glass-half-full outlook for south florida Miami and Beyond: taps Into the craft brewery movement By Andrea Speedy

alk into some of Miami and Fort Lauderdale’s most popular dining destinations these days and you may be surprised at the prevailing drink of choice . Hint: It’s not the champagne bubbles of South Beach. Rather, it’s the frothy bubbles and rich amber tones of beer that are taking center stage . Specifically, small-batch artisanal brews made by local brewers are changing at titudes ab out what great food and drink means in South Florida . TRENDS

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glass-half-full

“ hile Florida is a bit behind much of the country in the number of craft breweries, they are growing rapidly in number,” said Bill McFee in an interview with South Florida Business & Wealth. McFee is the co-owner and Brewmaster at Boca Raton’s Barrel of Monks Brewing – one of several locally owned and operated craft breweries to come to market in recent years. So why the sudden change of heart for South Floridians? It depends on your perspective. Long-time craft beer enthusiasts will tell you that there’s always been a sort of underground following for handcrafted brews. The Abbey Brewing Company, for example, located just off Lincoln Road and Michigan Avenue on Miami Beach, has long been regarded by Miami locals as an in-theknow place to enjoy a unique collection of special batches, made in Melbourne by Florida Brewing, but from The Abbey’s own recipes. Now in its 21st year, the Miami landmark for craft beers is showing that the demand has always been around… if not underserved. Others may tell you it’s a recent widening on bottling restrictions that has made craft brewing more accessible. Still others may cite a growing number of “second chapter” corporate execs eager to make a shift from more traditional business. Today, of course, the craft brew movement now reaches throughout Miami-Dade, Broward, and Palm Beach counties. Some specialize in bottling only. Others have attached a tap house or restaurant to the facility in order to draw a bigger crowd. One of the more popular of these new brewpubs is Concrete Beach Brewery, in the heart of Miami’s burgeoning Wynwood district. The industrial-chic décor featuring iron work and, yes, concrete is offset by a thoroughly modern layout, circular bar, and curved showcase windows overlooking the brew tanks. Called The Social Hall, the bar and pub area is open afternoons and evenings Thursday through Sunday only, and is almost always well trafficked. There are also free-to-the-public brewery tours on Thursdays, which most Brewmasters say is a critical element to keeping people connected to the craftsmanship approach. “For small, independent brewers, it’s important to be part of the communities we’re in,” explains Jeremy Sharack, Beverage Director for Jacksonville’s Seven Bridges Brewery – a restaurant chain that brews its own beers. “That becomes even more important when the beer is your primary product or offering.” Considering that craft breweries are defined by a production of 2 million barrels per year or fewer – compared to 150 million or more by global brewers like Anheuser Busch – and it’s very important why a loyal customer base has to begin at home. “The buy-local

philosophy isn’t just something that applies to fruits and vegetables,” Sharack continues, “it applies to beers and cocktails too.”

So What Does This Mean for South Florida? Indeed, the rapid growth of craft breweries is an exciting turn of events for those who enjoy a casual drink, great company, and tasty food. But is it really possible that it’s impacting the economy as well? Many signs point towards yes. First, there’s the capital necessary to open a brewery from the ground up. Equipment alone can cost upwards of $200,000, let alone the rent or cost for a location with sufficient

space (usually a few thousand square feet). Add bottling, staff, label design, marketing, and raw ingredients, and it can be a daunting undertaking for someone that’s simply a beer enthusiast. This indicates a strong pool of wealth in South Florida that’s not strictly tied to foreign investment or flight capital, which is a positive. Consider also that many of this new generation of brewers are savvy businesspeople who have identified an open market with little to no competition. As they’ve started up their operations, they’ve put other locals to work, creating more stability in the local job market. Once open, tours and restaurant offerings bring more traffic to previously forgotten neighborhoods – creating opportunities for other businesses in the area to capitalize on increased foot traffic, and vice-versa. Such has been the case for Wynwood Brewing Company – which sees a surge of

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business during ArtWalk in the district, every second Saturday of the month, when the Tap Room also hosts a Pop-Up gallery featuring local artists. Wynwood Brewing also hosts an “in the biz” night for fellow service industry workers, a day of discounted pricing for locals in the same and neighboring zip code, and Food Truck Fridays which supports some of Miami’s most popular up-and-coming chefs. So truly, the craft movement is a home-grown affair. “We’ve seen it time and time again,” says Stephen Bittel, chairman for Terranova Corp. “When the residents of an area take personal stake and ownership in that area – big things happen – often very quickly. This was the case in the resurgence of Lincoln Road on Miami Beach, Miracle Mile in Coral Gables, and even Pinecrest. I expect we’ll see more of the same in the very near future.” Marked by tremendous new development in the past 5 to 10 years, the neighborhoods Bittel mentions have been marked by rapid turnaround and an influx of independent boutiques,

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restaurants, and now, breweries. Fort Lauderdale seems poised to follow suit with the recent opening of LauderAle, Barrel of Monks, and Copperpoint Brewing Company. Though it doesn’t currently create its own brews, Tap 42 restaurant on Las Olas Boulevard is one of the hottest dining and leisure destinations in the neighborhood, which is ripe for redevelopment. “Developers may see an opportunity in undervalued land,” Bittel explains, “but we can’t create a demand out of nowhere. There has to be a spirit or energy that already exists… that’s what people really crave.” It would seem then, that the perfect way to satisfy that craving is a tall frosty glass of locallybrewed pride.

for Small and Independent Brewers Brewers Association Reports Strong Growth Pace “More and more Americans are discovering the joys of enjoying fresh beer produced by their neighborhood brewery. By supporting local, small and independent craft breweries, beer lovers are gradually returning the United States to the system of localized beer production that existed for much more of our nation’s history,” said Brewers Association’s chief economist Bart Watson. According to the Brewers Association, a not-for-profit trade association dedicated to small and independent American craft brewers, the craft brewing industry has continued a strong pace of growth for the first half of 2015. American craft beer production volume increased 16 percent with approximately 12.2 million barrels of beer sold by craft brewers (up from 10.6 million barrels compared to the same time last year). "The continued growth of small and independent brewers illustrates that additional market opportunities and demand are prevalent, although competition in the sector is certainly growing and the need for brewers to differentiate and produce world-class, high-quality beer is more important than ever," added Watson.

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1,181 - 6,951 SQUARE FEET AVAILABLE Recently renovated and high performing Publix anchored community center in the heart of West Palm Beach. Property upgrades include new roof, lighting, and signage, parking lot resurfacing and striping, new paint, landscaping, and security. Adjacent to Keiser Univeristy and its more than 800 students, faculty, staff and service professionals.

INTERESTED IN LEASING OR KNOW SOMEONE WHO IS? Contact Andrei Pintilie I apintilie@terranovacorp.com I 305.779.8903 26

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tenant spotlight

hats off to goorin bros. S herlock Holmes, Casa Blanca, Alice in Wonderland,

and Indiana Jones. What all of these movies have in common is the main characters have become synonymous with the distinctive hats worn in the films. Through the centuries hats have evolved not only in functionality, but also in fashion. In the days when they were first created, hats were used as head coverings for protection and did not necessarily pay any mind to fashion or trends. As the accessory evolved it became a status symbol for the wearer who showed their wealth, standing in society, and personality through an elaborately designed piece. During this time, the buying of a hat transitioned from a need for protection to a bespoke, personal and special experience. This holds true especially with 119 year old Goorin Bros hat makers who are still striving to provide an experience for their modern customers. Goorin Bros is a family run hat shop established in the late 1800s by Cassel Goorin who began selling hats off horseback. For many years the Goorin Bros label has been creating and designing custom hats from coast to coast, dedicated to bringing back the traditional experience of buying a hat. Now, run by a fourth generation Goorin, the brand has expanded its reach into Florida opening its first store at 612 Lincoln Road in Miami Beach. “Hats are an integral part of everyone’s look here in Miami,” said CEO Ben Goorin. “The fashionable scene and vibrant culture found in South Beach are the perfect new home for us, and we are thrilled to be

a part of it. The warm Florida sun stands no chance against a classic Goorin topper.” Summers in Miami can be brutal and most turn to hats to keep the sun off their faces and tame their beach tangles all the while adding a little something extra to their ensembles. They are considered a popular accessory for everyone from children to adults, and just walking down a street in Miami, you may encounter more styles than you ever imagined existed. The Lincoln Road shop marks their 30th location and the charming interior will keep return customers captivated while intriguing passerbys who peer through their vintage inspired windows. Their shops have an old-fashioned feel with antique décor handpicked from vintage shops from the cities in which they are located. Black and white images of the Goorin family adorn the walls making you feel as though you are touring the family’s own home. The displays take you through the evolution of hat styles showcasing modern and vintage silhouettes arranged on pegs and hat blocks with the occasional antique radio, typewriter or sewing machine tucked between different styles. Not only is the interior beautifully decorated, Goorin Bros also carries an impressive array of artisanal hats that are extremely wearable whether you are new to accessorizing or a seasoned professional. If you think hats just aren’t your thing, come by Goorin Bros and let the friendly shopkeeper help you pick out the perfect hat. We guarantee they will turn you into a believer.

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