MIAMI BEACH-Locally based Terranova Corp. landed leasing assignments for nearly 1.3 million sf, representing more than $200 million in new projects. Retail properties head the list, which also includes office buildings. In some locations, Terranova also gets the management contracts.
Boca Raton properties include the 128,223-sf Polo Club Shoppes on Military Trail and the 280,000-sf Mission Bay Plaza. Polo Club Shoppes is the third deal Terranova has sealed with the owner, Norristown, NJ-based SSR Realty, in the past six months. Terranova will also manage the property. Tenants include Publix, Walgreen's, SunTrust and Coldwell Banker.
Mission Bay Plaza's owner is Farmington Hills, MI-based Ramco-Gershenson. A new L.A. Fitness joins Albertson's and Office Max as anchors. Other tenants are Merle Norman Cosmetic Studio, Panera Bread, TGI Friday and Cold Stone Creamery.
The private owner of Plantation Marketplace in Plantation and Penn Dutch Plaza in Margate also hand Terranova leasing and management contracts. The 240,000-sf Plantation Marketplace is anchored by Winn-Dixie. Blockbuster, Bealls Outlet, Tuesday Morning and Big Lots are also tenants. Tenants in the 183,307-sf Penn Dutch Plaza include Penn Dutch, Blockbuster, Walgreen's and Wings Plus. The Arbors, a three-building, 240,179-sf office park on Congress Avenue in Delray Beach, also joins the Terranova portfolio. These assignments, with an aggregate value of more than $150 million, follow the recent addition of approximately 200,000 sf of new properties. As part of a Terranova-managed partnership's $50-million acquisition of a 10-building portfolio, the company also assumes leasing and management of eight retail buildings along Coral Gables' Miracle Mile and two Miami Beach office buildings.
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