DAVIE, FL-Eight new tenants signed leases totaling approximately 31,823 sf at Lakeside Town Shops, which is under construction at the northeast corner of Stirling Road and University Drive. That takes preleasing of the in-line, 69,275-sf portion of the 275,000-sf center to approximately 50%, Ryan Karlin of Fort Lauderdale-based Stile Retail Group tells GlobeSt.com.
A 185,000-sf Super Target will anchor the property, which Karlin says is "the largest retail property currently under construction in Broward County."
The average rental rate, according to a broker familiar but not associated with the center, who spoke to GlobeSt.com on condition of anonymity, is in the $30-per-sf range.
The largest of the new leases is for a 20,000-sf Office Max. Robert Breslau, president of Stiles Retail Group, handled that transaction. Karlin negotiated the other seven new leases for Stiles Corp., the developer. Payless ShoeSource is taking 3,010 sf for a five-year term. Pomodoro Ristorante, a New York City-based gourmet pizza chain, will make its South Florida debut with a 10-year lease for 2,250 sf. According to Karlin, it plans several restaurants in this part of the state.
West Chester, PA-based Electronics Boutique, which operates more than 1,600 EB Games stores worldwide, signed a five-year lease for 1,688 sf. RAM Commercial Group co-brokered this transaction with Karlin. Quiznos inked a 10-year lease for 1,500 sf. The Denver-based submarine sandwich chain operates 3,500 units worldwide. Compass Realty Advisors was the co-broker for this transaction.
In addition, Creative Hairdressers, a division of Hair Cutlery, is taking 1,125 sf for five years. Based in Vienna, VA, it is the largest division of Ratner Cos. with more than 800 salons in the East and Midwest. Diamond Nails leased 1,125 sf for 10 years, making this its fourth nail spa in Florida. Ocean Breeze Cleaners will open its first location with a 10-year lease for 1,125 sf.
Lakeside Town Shops is scheduled to open this fall. The center also includes almost 4.9 acres allocated for five outparcel users.
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