New Terranova Buildings Geared To Expand Lincoln Road District

THE REAL DEAL — March 5, 2015 — BY INA CORDLE Terranova Corp. is developing two new three-story buildings near Meridian Avenue in Miami Beach, bringing additional retail stores and a rooftop restaurant to the Lincoln Road area, Chairman Stephen Bittel told The Real Deal.

The new sites, at 723 Lincoln Lane and 801 Lincoln Road, are geared to expand the Lincoln Road shopping district from the pedestrian promenade to 17th Street. As rents reach as high as $400 a square foot, the retail area is continuing to pour over onto the side streets.

“This commences a march from Lincoln Road to 17th Street, creating an expansion of the Lincoln Road shopping district that is so vibrant around Lincoln Road,” Bittel told TRD, citing nearby CB2 and Khong River House. “Meridian will be a big part of it.”

The first building at 723 Lincoln Lane, will have 42,000 square feet alongside Macy’s, and has already received Miami Beach Design Review Board approval.

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Move Over Cupcakes, Macarons are Coming to Town

MIAMI BEACH, FLORIDA –February 23, 2014 –Cupcakes have taken over the dessert world for the past decade, but a new treat is on the rise and is opening up shop throughout the U.S. The nation is now satisfying their sweet tooth with macarons – a pillowy, dainty, and luxurious French cookie.

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Terranova Corporation has embraced this sweet trend and has signed leases for macaron bakeries in three properties throughout Miami, with the most recent addition to Coconut Grove’s Cocowalk, South Florida’s original urban destination for open-air shopping, dining, and entertainment..

Not to be confused with the coconut confection macaroons, Le Macaron makes traditional French macarons, a meringue-based cookie sandwich with a smooth and creamy center, filled with ganache, rich cream, or home-made fruit jams. Focusing on quality and luxury, Le Macaron brings the French spirit to Cocowalk with these melt in your mouth sweet delicacies.

“Macarons are the new cupcakes and we are excited to bring this dessert concept to Cocowalk,” said Terranova Commercial Associate Andrei Pintilie, who represented the landlord in the deal. “After an afternoon of shopping, dining, and entertainment, visitors can indulge themselves with a quick stop for a French pastry.”

Le Macaron will add to this iconic destination where the unique grounds and buildings were carefully designed to blend seamlessly into the surroundings of Coconut Grove, a bay side boating village. Cocowalk is lined with high-end retailers and boutiques, fine dining and bistro cafes, live entertainment with music ranging from jazz to Latin fusion, and a 13-screen luxury movie theater.

Le Macaron in Cocowalk will complete a tenant line-up that includes other leading retailers such as Cinepolis, Starbucks Coffee, Gap, Chili’s, Tervis, and Duffy’s Sports Grill.

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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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Miami-Dade Retail Report 2014

Average shopping center rents in Miami-Dade county went up 9.5% since early 2013, showing the largest increase in recent years along with a noticeable pick-up in big-box leasing and new development. New shopping centers are speckling the suburban landscape, a surge of new retail construction is sweeping through downtown Miami, and two long-proposed mixed-use projects in Doral have be revived, foretelling new retail destinations in that area.