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MIAMI LAKES, FL-In separate, unrelated transactions, Miami Beach-based Terranova Corp. negotiated a 20-year ground lease for construction of a new Ruby Tuesday restaurant in the Miami Lakes Town Center Phase III project and, further south, sells a 1.7-acre outparcel at Flagler Park Plaza to a gas station operator.

The Ruby Tuesday ground lease is valued at just over $2.4 million. It will construct a 5,700-sf, 210-seat restaurant on the vacant parcel, joining Bucca de Beppo in Phase III of locally based Graham Cos.’ main street project in the heart of Miami Lakes. There are 744 Ruby Tuesday restaurants worldwide and approximately 16 in South Florida. Mindy McIlroy, Terranova’s director of leasing, represented Graham Cos. The tenant is RT South Florida Franchise LP.

Meanwhile, Hubert Chen of Terranova represented the owner in the sale of a 1.7-acre outparcel at the 350,000-sf shopping center in Miami-Dade County. The buyer, Gastion Inc./Victory Petroleum, paid just over $1.3 million for the vacant land and plans a gas station there. Terranova manages and handles leasing for the center, which is anchored by a Publix supermarket. Among the other tenants are Linens ‘n Things, Jo-Ann Fabrics and Office Depot.

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