Thank you for sharing!

Your article was successfully shared with the contacts you provided.

For more retail coverage, click GlobeSt.com/RETAIL.

PEMBROKE PINES, FL-OfficeMax inks a 10-year lease for the 22,320-sf anchor location formerly occupied by La Ideal Baby Store at Westfork Plaza, the 396,681-sf shopping center at 15800 Pines Blvd. Mindy McIlroy, director of leasing for Miami Beach-based Terranova Corp., represented the owner in the lease transaction, which is valued at nearly $4 million.

“The opening of an anchor space at Westfork gave OfficeMax an opportunity to expand its presence in Pembroke Pines, where residential growth makes it one of the strongest retail markets in the country,” McIlroy says. Shopping center vacancy here, she says, is at less than 3%. The OfficeMax deal takes Westfork to 100% occupancy. Coconut Grove-based Swerdlow Group developed the power center in 1999.

This transaction also gives the retailer a second location here. Another OfficeMax store is located in Boulevard Square Center at 10970 Pines Blvd. Boise Cascade Corp. acquired the office supplies retail chain in 2003 and renamed the parent company OfficeMax Inc. Under the new ownership, OfficeMax is ramping up expansion plans and anticipates adding 50 units this year.

The Westfork deal with OfficeMax completes a “fine-tuning” of the anchor mix at the center, according to McIlroy. In late 2004, Terranova brokered the sale of the vacant former Kmart building to Costco Wholesale Club, which tore down the Kmart and a portion of the center to make way for a 138,739-sf Costco unit, gas station and additional parking.

The new Costco is scheduled to open in late 2005. OfficeMax is expected to open in early 2006. Other tenants include Winn-Dixie Marketplace, Regal Cinema, Blockbuster Video, Party City, Payless Shoe Source and Walgreen’s.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.