Retail

Retail shopping centers have evolved, and co-tenancy lease restrictions need to evolve as well.

The power is shifting towards employees and how and where they want to work.

The 158,463-square-foot grocery-anchored shopping center in Broward County is located approximately 12 miles southwest of Downtown Fort Lauderdale and was 99% leased at the time of sale.

Terra Capital has provided Miami-based alternative investment management firm CGI Merchant Group with a $57-million bridge loan to facilitate the recapitalization of the mixed-use property and what the ownership terms as a “ramp up” of a newly flagged hotel at the property.

This summer work will commence on phase one that will involve an approximate 9,000-square-foot freestanding building for Kiddie Academy and a nearly 4,500-square-foot single-tenant building, which is available for lease.

Stavrianos' background includes 13 years at CallisonRTKL and a dozen years at Pappageorge Haymes Partners.