Press releases Archives - Page 21 of 59

Terranova Closes Record $342 Million Lincoln Road Sale

August 19, 2014/in Leasing, Press releases

MIAMI BEACH, FLORIDA –August 19, 2014 –In one of the largest deals in South Florida history, Miami Beach based Terranova Corporation announced the sale of its 6 building portfolio of Lincoln Road area assets for $342 million. The properties were assembled over the past three and one half years at a cost of $191 million. The buyer is Morgan Stanley Real Estate Investing, along with affiliates of Terranova.

Terranova Chairman, Stephen H. Bittel, termed the transaction “one of the most exciting deals the firm has had the privilege with which to be involved over the company’s 35 year history. We have been thrilled to join with the other owners on the street and the visionary leadership of the City of Miami Beach, to play an important role in moving Lincoln Road forward. Our investment with Acadia Opportunity Funds has drawn more and more attention of professional capital to the street. At the same time, the interest from top international retailers has pushed sales and rents higher and higher. The planned redesign of the Lincoln Road common areas and the redevelopment of the Miami Beach Convention Center are strong positive influences that will keep the momentum moving forward.”

Bittel went on to indicate that “the new partnership with Morgan Stanley Real Estate Investing will continue to seek opportunities in the market for this kind of unique asset of enduring generational value. This long term investment strategy focused on high street retail properties reflects the continuing trend of residents and tourists alike to be drawn to the top urban shopping streets, of which Lincoln Road is the absolute best, south of Madison Avenue in New York City.”

Terranova is honored to have been invited to join with Morgan Stanley Real Estate Investing to continue to be involved with their newly acquired Lincoln Road portfolio, as operating partners responsible for management, leasing and development. Two of the properties have already received Historic Preservation Board approval for expansions enabling the accommodation of new flagship retailer opportunities. An additional development is proposed on Lincoln Lane, creating a three level building of unique architectural interest.

Lincoln Road has become home to retailers from around the world including Armani, H&M, Zara, John Varvatos, Zadig and Voltaire, Anthropologie, and Apple. Joined by an exceptional line up of dining options including Sushi Samba, Khong River House, Ladurée, Meat Market, Sosta, and Havana 1957, the shopping/entertainment options combine together to attract record numbers of pedestrians, both local and tourists, making Lincoln Road a top regional destination, all day and night.

Bittel said that “Miami Beach has had a magnetic attraction from around the world almost since developer/creator Carl Fisher’s dreams started to become reality. With a storied past to build upon, we look forward to an exceptional future of growing asset values, as we work closely with the community to make Lincoln Road better and better for both residents and visitors.”

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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 Signs Outparcel Deal With Buffalo Wild Wings

August 7, 2014/in Leasing, Press releases

MIAMI BEACH, FLORIDA –August 7, 2014 –Terranova Corporation is pleased to announce it has signed Buffalo Wild Wings to a soon to be developed outparcel at 1601 N Congress Avenue, in Boynton Beach, Florida.

Buffalo Wild Wings has signed a 10-year lease for a 6,800 square foot restaurant. With locations in every state and continuing to grow internationally, the new Boynton Beach location is projected to open its doors in December 2014.

When touring with Buffalo Wild Wings, Terranova Corporation presented the former Pete Rose Sport Café’s space adjacent to the Courtyard Marriot in Boynton Beach, but like many prospects, Buffalo Wild Wings was unhappy with the lack of visibility. As many restaurants demand high visibility sites, Terranova Corporation presented an idea for a new onsite outparcel.

“We are pleased to have come up with this outparcel idea that not only made the tenant happy but created additional value for the landlord,” said Terranova Commercial Associate Andrei Pintilie, who represented the landlord in the deal.

With more than 1,030 owned and franchised locations in the U.S., Canada and Mexico, Buffalo Wild Wings prides itself as the ultimate place to get together with friends and family for beer, wings and sports watching. With new menu introductions and restaurant remodels meant to encapsulate the energy of a sports stadium, without the stadium seating, Buffalo Wild Wings continues to work to develop a brand for consumers.

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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It’s Time For Miami To Get “Movin To The Beat” For Parkinson’s Disease

August 7, 2014/in General, Press releases

MIAMI, FLORIDA –August 7, 2014 –The National Parkinson Foundation (NPF) in partnership with South Florida Chapter is holding Moving Day®, a fundraising walk for Parkinson’s disease (PD) in Miami. Moving Day® Miami presented by Terranova Corporation will be held at Bayfront Park on Sunday, October 5th, 2014 starting at 8:30am. The money your community raises through Moving Day® will help improve the lives of PD patients and families affected by the disease.

Each walk will feature a “Movement Pavilion,” with activities such as yoga, Pilates, Tai Chi, dance and much more. Studies show that movement is beneficial and proven to help manage the symptoms of PD, improving flexibility and mobility. The aim is to encourage people to stay active and move for better health.

“On behalf of all persons living with Parkinson’s, participation in Moving Day® indeed changes the quality of life for those in our community that are struggling with this debilitating disease. It’ll be a great day and a lot of fun. I look forward to seeing everyone “Movin’ to the Beat” at Moving Day® Miami 2014!” states Jim Morgan, Moving Day® Miami Chair.

People who take part in Moving Day® Miami become part of a nationwide movement to beat PD by supporting PD education and outreach, cutting-edge research aimed at better treatment and care for PD patients, advancement of clinical care through healthcare professional training and raising general awareness about the disease.

Moving Day® Miami raises awareness of Parkinson’s both nationally and in the South Florida Chapter community. All proceeds raised from the campaign go toward supporting local services for people living with the disease and research leading to better treatments.

To learn more about Moving Day® Miami and how you, your family and friends, and/or your company can get involved, please visit www.MovingDayMiami.org. Moving Day® is made possible, in part, through the generous support of national sponsors, including Moving Day® National Partners UCB, US WorldMeds and Right at Home. Additional national and local sponsorship opportunities are available.

About Parkinson’s Disease

Parkinson’s disease is a neurodegenerative brain disorder that progresses slowly in most people with PD. When 60 to 80 percent of the dopamine-producing cells in the brain are damaged, and do not produce enough dopamine, the motor symptoms of Parkinson’s disease appear. In the United States, 60,000 new cases are diagnosed each year, adding to the one million people who have Parkinson’s disease. It is estimated that four to six million people around the world have Parkinson’s.

About the National Parkinson Foundation (NPF)

Founded in 1957, the mission of the National Parkinson Foundation is to improve the quality of care for people with Parkinson’s disease through research, education and outreach. NPF has funded more than $180 million in care, research and support services.

For more information about the National Parkinson Foundation and the Moving Day® Miami event, please visit www.parkinson.org or call 1-800-4PD-INFO (473-4636).

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