Terranova signs new retail tenants on Lincoln Road, Miracle Mile

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SOUTH FLORIDA BUSINESS JOURNAL —DECEMBER 21, 2020 — BY MATTHEW ARROJAS Retailers continue to sign new leases in South Florida, despite the Covid-19 pandemic, even on some of the region’s most expensive retail strips.

Miami Beach-based commercial real estate firm Terranova Corp. announced that four new retailers are coming in Miami Beach, while five secured leases along Miracle Mile in Coral Gables. The nine new tenants will occupy a combined 20,000 square feet of space.

Terranova President, Mindy McIlroy has led the company’s leasing operations, founder and Chairman Stephen Bittel said.

The new tenants along Miracle Mile are:

Tamaria: Set to open in 2021, this 1,497-square-foot jazz house will serve international cuisine at 208 Miracle Mile. The space was previously occupied by Janette & Co. Macaron and French Pastries. Owners signed a three-year lease for the space.

Sushi Sake: The Miami-based sushi bar chain is set to open it’s 15th location next year at 202 Miracle Mile. The company signed a 10-year lease for 2,600 square feet, replacing Einstein Bros. Bagels.

Seasy Mediterranean: Set to open in a space previously occupied by BurgerFi, this new concept from Made in Napoli Hospitality will debut in 2,592 square feet at 136 Miracle Mile.

Miami-Dade County Coral Gables Branch Library: With the library set to undergo renovations, a temporary 2,242-square-foot storefront will soon open just a mile away at 308 Miracle Mile.

Studios on the Mile: 8,655 square feet of gallery and studio space opened Oct. 1 in six spaces along the 200 block of Miracle Mile. The tenant agreement that brings artists to the block was part of a collaboration with the Coral Gables Business Improvement District.

The new tenants along Lincoln Road in Miami Beach are:

The Sexy Cow: The full-service, churrascaria-style restaurant is expected to open in spring 2021 at 809 Lincoln Road. The Sexy Cow would occupy 1,346 square feet just off the pedestrian strip, replacing Argentine restaurant Maya’s Grill.

Plant Daddy: Owner Gabriel Diaz opened his plant nursery in 348 square feet at 808 N. Lincoln Lane.

Renegade Rustlers: Owner Jozy DeFord, owner of the vintage clothing boutique, got her start as a merchant at the Lincoln Road Antique Market. She opened her first brick-and-mortar shop, a 348-square-foot space at 804 N. Lincoln Lane, in late October.

Sol + Sorbet: The resort wear and swimwear brand, founded by Gina Kravitz, occupies 260 square feet at 816 N. Lincoln Lane.

Terranova also revealed that Simply Good Pizza, Cilantro 27 and Market Milkshake Bar are coming to the Lincoln Eatery food hall.

“We wanted to provide an opportunity to small businesses, restauranteurs and artists to locate themselves in a bustling and enviable location, create increased activity, and simultaneously fill vacancies created by long-term shutdowns,” Bittel said. “Despite the ongoing pandemic, the South Florida’s retail real estate market is healthy and active.”

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Stephen Bittel Announces Incredible Lineup for Holiday Shopping Trips Near Miami

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THE POINT NEWS — DECEMBER 16, 2020 — It’s that time of year again—the time where everyone is looking to purchase gifts for the people they love. It can be a challenging time, especially for those who have just about everything or don’t ask for a lot. Small shops provide an advantage to find unique gifts, while also supporting the local families in a more direct way.

This holiday season, you should consider supporting as many local shops as you can swing for your Christmas gifting list.

During the most wonderful time of the year, there is a lot to be said for local shopping. As Floridians prepare for the holiday season, Terranova’s Founder Stephen Bittel has announced the exciting addition of 18 new shops and restaurants in the Coral Gables and Miami Beach areas between now and 2021. Some have signed extensive leases and others are just popping up for a few months.

These locations bring so much to the community—providing two fabulous places to shop and explore during the holidays.

Throughout Miami, from Coral Gables to Miami Beach, you will find so many incredible things to do. You can certainly spend an entire day shopping to make this holiday bright. Here is a holiday list of some of the best things to do (and eat) along Miracle Mile and Lincoln Road this holiday season.

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Lincoln Road pop-up

Pre-holiday pop-up shops bring new life to Lincoln Road – and fill empty spaces

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MIAMI HERALD — SEPTEMBER 28, 2020 — BY REBECCA SAN JUAN Lincoln Road is getting a trio of new pop-up shops.

To help small businesses and fill a growing number of retail vacancies, the Lincoln Road Business Improvement District has launched a pre-holiday pop-up program. So far, three small business owners have signed leases.

The Lincoln Road BID approved the program in early September. Retailers submit an application for a 90-day lease, said Tim Schmand, BID executive director. Schmand reviews applications and connects applicants with landlords. Lease rates are often less than the going price for annual contracts.

The BID is aiming to fill vacant storefronts before the holiday season. Although Lincoln Road signed several new retailers last year, occupancy rates have dropped by 8% since December 2019, from 82% to 74%, Schmand said. Of its total 250 storefronts, about 60 spaces are empty.

“The goal of the program is to get interesting, cutting-edge retailers onto Lincoln Road. If we get four interesting retailers on Lincoln Road, then that’s a home run,” Schmand said.

Some landlords are charging less for pop-ups than the current average asking rates. Stephen Bittel, chairman and founder of Terranova and owner of several commercial spaces on Lincoln Road, is asking for about $80 per square foot for short-term leases versus $250 per square foot for annual contracts.

“It pays for the operation costs but we make no profit,” Bittel said. “[But] if the tenant wanted to enter in a long-term lease, we could extend the pop-up for the next 90 days. Our goal is to keep the street as occupied as possible.”

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