Current media coverage and upcoming developments hand-picked from the industry.

Terranova is Popping on Lincoln Road

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MIAMI’S COMMUNITY NEWSPAPERS — December 8, 2016 — With the holidays quickly approaching, brands are“popping up” all along Lincoln Road. Terranova recently signed three new short-term deals on the world famous retail street.

Cap’n Crunch has landed in Miami Beach in the form of a 2,966 square foot pop-up shop at 721 Lincoln Road. The Kith x Cap’n Crunch store, a partnership between the cereal brand and the New York-based cereal bar, Kith Treats offers both food and limited edition Cap’n-Crunch apparel.

Kiwi Arts Group opened a 2,668 square foot gallery at 737 Lincoln Road to showcase American photographer William John Kennedy’s historic collection of Andy Warhol and Robert Indiana photographs during Art Basel through January 5th.

Daniel Wellington, a minimalistic elegant watch boutique, opened at 608 Lincoln Road. This 6-month, 748 square foot pop-up is part of the international brand’s U.S. launch, and ads timeless and classic style to the mix on Lincoln Road.

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Two Miami Beach Properties Sell for $49 Million, Doubling Purchase Price

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DAILY BUSINESS REVIEW — July 18, 2016 — BY CARLA VIANNA. Sit on an asset long enough and it’ll double in price.

That was the case for two office properties in Miami Beach that fetched $49 million late last week — double the original purchase price twelve years earlier.
 

Terranova Corp. affiliate Beach Tower LLC sold the office towers at 1674 and 1688 Meridian Ave. for $48.75 million in a deal that closed July 14, the real estate advisory firm announced. The seller pocketed the buildings in 2004 with two transactions totaling $27 million.

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Two office buildings near Lincoln Road sell for $48.75 million

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MIAMI HERALD — July 15, 2016 — BY CHABELI HERRERA. An affiliate of Miami Beach-based commercial real estate firm Terranova Corp., Beach Tower LLC, has sold two office buildings a block north of Lincoln Road for $48.75 million, furthering the firm’s goal of expanding the promenade to 17th Street.

Ivy MBT Property has purchased the buildings from Beach Tower LLC, which purchased the properties at 1674 and 1688 Meridian Ave. in 2004

Nearby, Terranova is also developing two three-story buildings — at 723 Lincoln Lane and 801 Lincoln Road — into retail projects with Marshalls and Anthropologie as anchor tenants.