Shadowwood Square

Terranova’s Stephen Bittel Welcomes Two New Tenants to Boca Raton’s Shadowwood Square

THE BOCA RATON TRIBUNE – August 31, 2022

With new tenant announcements, Boca Raton is becoming the real estate market to watch

 Terranova Corporation, a leading commercial real estate firm, and President Mindy McIlroy represented Shadowwood Square, a power center in Boca Raton, in its recent signing of two new tenants – Carter’s Retail Inc. (NYSE: CRI) and The Great Greek Mediterranean Grill. Carter’s Retail Inc., the largest branded marketer of baby and children’s clothing in the U.S., will occupy 4,442 square feet at 9831 Glades Road. The Great Greek Mediterranean Grill, a trans-generational Mediterranean dining experience, which will occupy 2,700 square feet at 9961 and 9963 Glades Road.

Over the last couple years, South Florida has seen an influx of high-end restaurants, businesses and retailers relocating their headquarters or expanding into the market. Boca Raton, known for its reputation as a luxurious city ranked on the IRS’s top 100 wealthiest U.S. cities list, has become an increasingly attractive option for companies seeking to make the move.

“We are thrilled to grow the Boca Raton community with the perfect additions of Carter’s Retail Inc. and The Great Greek Mediterranean Grill to Shadowwood Square,” Stephen Bittel, founder and chairman of Terranova, said. “With many businesses seeking to make their mark in the tri-county area,  we are seeing an influx of family-focused businesses migrating to Boca Raton, a growing, family-oriented neighborhood.”

Carter’s Retail Inc. has been a trusted baby and children’s clothing vendor since its inception in 1865, having instilled a culture of care and quality. The company seeks out opportunities to positively impact the communities  their stores are rooted in, finding ways to give back and ensure no product that could be used by a child is wasted.

Similarly, The Great Greek Mediterranean Grill is known for its heritage of tradition and togetherness, qualities sought after by family-friendly communities like Boca Raton. Founded by two third-generation restaurateurs, the company has established an atmosphere of generational love while making patrons feel right at home, creating a dining experience based on their own childhood memories spent with family and friends.

The 220,426 square foot retail center is conveniently located in West Boca at the northeast corner of US-441 and Glades Road, a high traffic location seeing up to 82,000 cars passing daily.

These tenants join Bed, Bath & Beyond, Best Buy, Old Navy and Regal Cinema, among others, at Shadowwood Square, continuing to expand Boca Raton’s commercial real estate landscape.

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Carter’s Retail, Great Greek Mediterranean Grill sign leases at Boca Raton retail center

SOUTH FLORIDA BUSINESS JOURNAL – August 31, 2022 BY JASMINE FLOYD

Carter’s Retail Inc. and Great Greek Mediterranean Grill have signed leases to open in Boca Raton’s Shadowwood Square retail center, according to Terranova Corp.

Atlanta-based Carter’s Retail (NYSE: CRI), one is the largest clothing brands for children, will occupy 4,442 square feet at 9831 Glades Road.

Great Greek Mediterranean Grill has leased 2,700 square feet at the plaza, at 9961 and 9963 Glades Road. Founded by two third-generation restaurateurs Nick A. Della and Trent Jones, the eatery serves gyros, wraps, burgers and rice bowls.

They will join tenants including Bed, Bath & Beyond, Best Buy, Old Navy and Regal Cinemas.

Shadowwood Square, within the Hamptons neighborhood, was completed in 1982 and totals 220,426 square feet.

“With many businesses seeking to make their mark in the tri-county area, we are seeing an influx of family-focused businesses migrating to Boca Raton, a growing, family-oriented neighborhood,” Stephen Bittel chairman of Terranova said in a press release.

Miami Beach-based commercial real estate firm Terranova Corp. facilitated the lease for the two tenants.

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Lincoln Road

Lease roundup: Terranova, Millennium, R&B, Duke nab tenants

THE REAL DEAL – August 22, 2022 BY LIDIA DINKOVA

Callista Couture, Unfashional I Lincoln Road I Miami Beach

In another example of New York businesses’ migration to South Florida, two retailers are making their debut with new stores on Miami Beach’s Lincoln Road.

Stephen Bittel’s Terranova, among the biggest landlords on the shopping and dining pedestrian street, signed Callista Couture for 1,200 square feet at 612 Lincoln Road, as well as Unfashional for over 1,500 square feet at 817 Lincoln Road, with an additional 1,700-square-foot pop-up space at 815 Lincoln Road, according to the landlord’s news release.

The buildings are part of Terranova’s seven-property portfolio spanning roughly 140,000 square feet along Lincoln Road. The company is based in Miami Beach.

Lincoln spans eight blocks and has 281 businesses, 65 restaurants, more than 800,000 square feet of retail space, according to the release. It includes over 1 million square feet of offices.

Silicon Valley Bank, MFS Investment Management I Four Seasons Hotel and Tower I Miami

Millennium Partners has fully leased the office portion at the Four Seasons Hotel and Tower in Miami’s Brickell.

Silicon Valley Bank, a subsidiary of SVB Financial Group, will move into 8,600 square feet on the 15th floor at the office building at 1441 Brickell Avenue in the second quarter of next year, according to a news release from the owner’s broker. Investment manager MFS Investment Management will move into 2,300 square feet, also on the 15th floor, by year-end.

In total, 19,000 square feet of new leases were signed, although the other tenants were not identified.

Gordon Messinger of CBRE represented Millennium Partners. Jenny Turner and Bob Orban of Cresa Partners represented Silicon Valley Bank. Carlyle Coffin of Newmark represented MFS Investment.

Millennium Partners completed the 70-story Four Seasons in 2003, with a 221-key hotel and 84 condo-hotel units on the lower floors and 186 condos on floors 40 to 70, according to the developer’s website and property records.

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