Terranova Affiliate Sells Suniland Shopping Center for $66.5 Million

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MIAMI BEACH, FL – May 31, 2016 – Concluding a 22 plus year investment, Suniland Associates, Ltd. sold the Suniland Shopping Center on Friday for $66.5 million dollars.

Originally purchased in two transactions, in 1994 for $9,295,000 plus an out piece in 1996 for $1,121,300, the gain to investors over the long hold was extraordinary when cash flow from operations, refinancing proceeds, and sale proceeds were combined.

Investors received an annualized internal rate of return over the investment period of 33 percent.  Terranova Chairman Stephen Bittel said, “we have been so proud to grow the value of Suniland throughout our holding period. Suniland has always been and will continue to be the heart of the Village of Pinecrest.  With great demographics and traffic and Terranova’s constant love and attention, we made magic.  While we are sad to say goodbye, we are optimistic that the buyers, a Denver based private REIT will enjoy a future ownership as wonderful as ours has been. Suniland has provided one of the most remarkable returns on a real estate investment ever, returning an equity multiple of twenty five times.”

The 82,000 square foot property on 7.11 acres on U.S.1 in Pinecrest includes as tenants Flanigans, SunTrust, Citicorp, the U.S. Post Office, CVS, Nicklaus Children’s Hospital, and longtime community favorites Pete’s Barber Shop and Wagons West.  The sale was exceptionally brokered by Mark Gilbert of Cushman and Wakefield.

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Terranova Corporation, South Florida’s leading commercial real estate advisory firm, currently is involved with commercial real estate assets for its clients and its own portfolio valued at more than $1 billion. The company offers complete commercial real estate services, including asset and property management, leasing, tenant representation, acquisitions, dispositions, financing, construction management and development services.

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Terranova’s Website Takes Home the Silver ADDY Award

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MIAMI BEACH, FL – March 22, 2016 – Terranova Corporation’s website was honored with a Silver ADDY Award at the 2015-2016 American Advertising Awards presented by the Fort Lauderdale chapter of The American Advertising Federation. The ADDY awards recognize the highest level of creative excellence in an advertising medium.

helium creative, a full service advertising firm based in Ft. Lauderdale, was awarded for the design and development the agency submitted for Terranova’s redesigned corporate website. helium provided a look that reflected who Terranova is today, offering a sleek, engaging, and design-forward aesthetic allowing the viewer to recognize what makes Terranova the superior commercial real estate choice.

The American Advertising Awards are held annually and are the industry’s largest advertising competition, receiving more than 50,000 entries each year. The competition is first held locally within a chapter, which covers specific media markets. The chapter winners then advance to compete at the district and then national level.

“There is no greater honor than being recognized within the industry for our work!” says helium’s President and Creative Director Christopher Heller. “Receiving a Silver ADDY Award for the Terranova website is not only a testament to the hard work and creativity of the helium creative team, but also to our partnership with such a great client! Thanks Terranova for the opportunity to let our passion shine and know it will support your continued success!”

CLICK HERE FOR THE PDF PRESS RELEASE

Terranova Corporation, South Florida’s leading commercial real estate advisory firm, currently is involved with commercial real estate assets for its clients and its own portfolio valued at more than $1 billion. The company offers complete commercial real estate services, including asset and property management, leasing, tenant representation, acquisitions, dispositions, financing, construction management and development services.

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Terranova Promotes Andrei Pintilie to Senior Commercial Associate

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MIAMI BEACH, FL – September 24, 2015 – Terranova, South Florida’s leading commercial real estate advisory firm, is pleased to announce the promotion of Andrei Pintilie to Senior Commercial Associate.

Pintilie arrived in the U.S. in 2003 and accepted a part time Research Assistant position at Terranova while attending college. Since then, he has risen through the ranks to gain the prestigious title of Senior Commercial Associate during his 12-year tenure with the company.

Pintilie has assisted an array of regional and national landlords and tenants with their South Florida real estate strategy and has a track record of leases valued at $32 million in the past four years. Throughout his career, Pintilie has faced leasing some challenging spaces and yielded successful results where previous endeavors have proved unfruitful.

“My favorite part about working in this industry is seeing my hard work and creativity pay off by adding value to properties. The project I am most proud of is one that facilitated the sale of a center for three times its purchase price after I refreshed and upgraded the tenant mix and brought the property to 100% occupancy.”

Pintilie was awarded the 2012 CoStar Florida Power Broker Award, received a Master of Science in Real Estate from Florida International University, and attained the prestigious CCIM (Certified Commercial Investment Member) designation making him a recognized expert in the commercial and investment real estate industry.

“Andrei’s retail expertise and high level of service to his growing list of landlords and tenants has positioned him as a leader in the South Florida real estate market,” said Mindy McIlroy, executive vice president of Terranova.

With his knowledge and expertise of the commercial real estate industry, Pintilie is determined to continue his success and leadership in his new role as Senior Commercial Associate.

CLICK HERE FOR THE PDF PRESS RELEASE

Terranova Corporation, South Florida’s leading commercial real estate advisory firm, currently is involved with commercial real estate assets for its clients and its own portfolio valued at more than $1 billion. The company offers complete commercial real estate services, including asset and property management, leasing, tenant representation, acquisitions, dispositions, financing, construction management and development services.

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