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

Terranova Brokers $20 Million Loan for Paraiso Parc

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MIAMI BEACH, FLORIDA – July 5, 2011 – Terranova Capital Corporation has brokered a $20 million loan for power shopping center Paraiso Parc, 15701 & 15729 Pines Boulevard, Pembroke Pines on behalf of its affiliated venture partners.

In this challenging economic environment lender MetLife loaned on a quality asset with top sponsorship. The favorable financing speaks to the strength of the well maintained A+ quality investment property. Paraiso Parc was originally purchased in an all cash deal in 2007.

Paraiso Parc is 99% occupied with long term leases in place and features a national tenant lineup including the “A” player in the grocery category Publix alongside AT&T, SunTrust, and Wells Fargo. The center lies on Pines Boulevard, the major retail corridor in Broward County which links East and West Pembroke Pines. Paraiso Parc is in a dense, high income neighborhood, where the average household income exceeds $137,000 within a 3-mile radius.

Terranova Corporation’s leasing and operating efforts at Paraiso Parc have revealed quality long term tenants and a well preserved center giving the lender the confidence to make the loan.

“If a loan was going to be given this is an asset that a lender would not pass up,” said Terranova Chairman Stephen Bittel. “We look forward to a long relationship with MetLife.”

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 Represents Boca Office Building in $13 Million, 61,500 Sq Ft Renewal Deal with Lexisnexis

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BOCA RATON, FLORIDA – May 12, 2011 – Terranova Corporation is proud to announce that LexisNexis has signed a 10-year lease renewal at Meridian Commercial Office Complex located at 6601 Park of Commerce Boulevard in Boca Raton, Florida.

Terranova Senior Commercial Associate Gordon Messinger represented the landlord in the 61,524 square foot transaction valued at over $13 million.

LexisNexis is a leading global provider of content-enabled workflow solutions designed specifically for professionals in the legal, risk management, corporate, government, law enforcement, accounting, and academic markets. A member of Reed Elsevier, LexisNexis serves customers in more than 100 countries with 15,000 employees worldwide. LexisNexis will continue to occupy the entire building, which is home to their Risk Solutions division.

“We are thrilled LexisNexis has decided to renew its commitment to Meridian Commercial. Meridian Commercial offered all of the requirements LexisNexis needed to maintain its operations at 6601 Park of Commerce Boulevard. We look forward to a strong long standing relationship with such a valued tenant,” said Stephen Bittel, Terranova Chairman.

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 Represents Anna’s Linens in Four New Deals for 40,000 Sf

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MIAMI BEACH, FLORIDA – March 1, 2011 – Terranova has closed four new retail locations for exclusive tenant representation client Anna’s Linens. Terranova is Anna’s exclusive broker for Miami-Dade, Broward, and Palm Beach counties. A team of Terranova professionals including Michael Blue, Daniel Diaz, and Stephen Bittel represented Anna’s Linens in closing four new deals occupying nearly 40,000 square feet of retail space.

The new deals mark a big push in Anna’s business growth in south Florida, one of their top markets in the whole country. Terranova’s deals, all closed within a six-week period, bring the retailer to two major shopping centers in Palm Beach County and two in Miami-Dade County.

Anna’s Linens is a value leader in home fashion products founded in 1987. Based in Costa Mesa, California, there are currently nearly 300 stores throughout the United States. The company’s motto is to “sell steak cheap, not cheap steak” providing primarily American made textiles to the domestic industry.

Anna’s new south Florida locations include Flagler Park Plaza, 8309 W. Flagler Street, Miami Gardens Shopping Center, 5750 NW 183rd street, Lantana Shopping Center, I-95 and Lantana Road in Lantana, and the Plaza at Delray, 1538 South Federal Highway in Delray Beach. The grocery store-anchored power centers are all located in densely populated areas near high-traffic commercial roads and highways. Anna’s will join national tenants such as Publix, Ross, Winn-Dixie, CVS, Walgreens, Regal Cinemas, and Staples.

Although Anna’s Linens currently operates over 15 stores in the south Florida market, the business anticipates continued growth in sales coinciding with the improving national economic climate.

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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