The latest of what’s going on from Terranova’s office to yours.

Terranova Closes $3.7 Million, 27,000 Square-Foot Lease For Health Management Associates in Sarasota, Fl

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SARASOTA, FLORIDA – March 26, 2012 – Terranova closes a $3.7 million lease for Hospital Management Associates, Inc., a subsidiary of Naples based Health Management Associates, Inc. (HMA), in the Sarasota Commerce Center II located at 101 Arthur Andersen Parkway Sarasota, FL 34232.

Terranova Senior Associate, Bob Travis, represented the tenant in the 27,000 sq. ft. lease. “We are delighted to have facilitated the relocation of Health Management Associates’ new Florida Regional Service Center to this area of Sarasota County,” said Travis. “We also greatly look forward to their continued success and expansion at this location.”

HMA has 66 hospitals and 461 clinics across 15 states. The multimillion dollar lease of HMA’s regional service center is conveniently located in its most serviced state, Florida, with approximately one-third of their hospitals and clinics located there. HMA plans to employ more than 200 associates at the regional service center.

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 Scores $22.5 Million Refinance For Suniland Shopping Center

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MIAMI BEACH, FLORIDA – February 21, 2012 – Terranova Capital Corp. is proud to announce the $22.5 million refinance of the 82,000 sq. ft. Suniland Shopping Center located at 11325 South Dixie Highway Pinecrest, FL 33156.

The new loan provided by PNC Corp. was used to satisfy an existing much smaller loan from a life insurance company, and generate significant excess proceeds. The property is owned by Suniland Associates Ltd., an affiliate of Terranova, which has owned the property since 1996.

Originally acquired in two transactions in 1994 and 1996 totaling $10.4 million, Terranova has extensively renovated the property and upgraded the tenancy bringing in exceptional tenants like the U.S. Post Office, SunTrust Bank, Citicorp, Great Florida Bank, Starbucks, Flanigan’s, The Cheese Course, Hair Cuttery, Sushi Rock, Energy Kitchen and others to join existing longtime tenants CVS, Wagons West and Pete’s Barbershop.

Terranova Chairman Stephen Bittel said, “This is just one more example of our firm identifying and acquiring great real estate, redeveloping it to unlock the value, and then leasing to the best tenants we can find. We have improved the tenant mix and grown income significantly. The best is still to come!”

“Suniland is the heart of the village of Pinecrest community. We have brought in the best of new retail concepts to join with longtime community icons. Our property serves the shopping, dining and entertainment needs of the community. Suniland remains one of the top choices of new retailers entering our market because of the high income in the Pinecrest community and its magical location on U.S. 1 with traffic counts approaching100,000 cars daily, enabling it to serve a much broader trade area,” said Terranova Executive Vice President Mindy McIlroy.

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 Welcomes Dream Getaways USA to Palm Plaza

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MIAMI BEACH, FLORIDA – February 2, 2012 – Terranova is proud to announce the addition of Dream Getaways USA to Palm Plaza located at 16847 NW 67th Avenue, Miami, FL 33015.

Dream Getaways USA joins the Palm Plaza tenant list as its first vacation destination retailer. Terranova leasing agent, Andrei Pintilie represented the landlord.

Dream Getaways USA relocated from an office building to an 861 sq. ft. store-front location in Palm Plaza to benefit from the high traffic Palm Plaza draws. Anchored by Navarro Discount Pharmacy and Denny’s, Palm Plaza is a highly visible shopping center just off the Palmetto Expressway, with traffic counts of approximately 159,000 cars daily.

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 over $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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