MIAMI BEACH, FLORIDA – November 27, 2012 – Terranova Corporation is pleased to announce it has signed a lease with Gap, providing a temporary store for the popular retailer while it builds its new multi-story location on Lincoln Road.
Terranova executive vice president Mindy McIlroy and leasing director Isabelle Courtial represented the landlord in the transaction.
Gap will open a new location just off Lincoln Road at 1669 Meridian Ave., two blocks away from Gap’s current location at 1001 Lincoln. The existing Gap store will close by early 2013, when Gap will begin redeveloping the building into a two-level, 20,000-square foot flagship store. During construction, Gap will stay open for business at the Meridian Avenue location.
“Gap will be able to maintain an active presence on the Lincoln Road district, while going through construction of their fabulous new store,” Terranova’s McIlroy said. “We were really happy to be able to provide this solution, which also contributes to the ongoing spread of Lincoln Road’s intense retail activity onto the connecting streets.”
Gap plans to demolish most of the 1001 Lincoln building and create a new store with a modern look but will preserve the building’s historic contribution to Lincoln Road’s architecture.
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.