Posts Tagged : Fort Lauderdale

CREC Tapped by Thor Equities to Reposition & Draw High-Street Retail to Prime Fort Lauderdale Beach Shopping Destination

CREC Tapped by Thor Equities to Reposition & Draw High-Street Retail
to Prime Fort Lauderdale Beach Shopping Destination

Florida’s leading commercial real estate firm to transform The Gallery at Beach Place
into a live-work-play lifestyle center following major renovations.

CREC – Florida’s leading, independent, full-service commercial real estate firm – announced today that it has been selected by Thor Equities as the exclusive leasing agent for The Gallery at Beach Place in Fort Lauderdale Beach, Florida. Bringing extensive expertise in high-street retail, CREC together with Thor Equities will reposition the property’s tenant mix, revitalizing this Fort Lauderdale Beach landmark.

A major $1.9 million renovation by Thor Equities, including a fresh façade and modernization of finishes throughout, is currently underway to appeal to shifting demographics and increased demand for tailored, experiential retail in the Fort Lauderdale market.

“We are excited to collaborate with Thor Equities to reposition this trophy asset and bring it to full occupancy,” said CREC Vice President Rafael Romero. “The 360-degree renovation of The Gallery at Beach Place encompasses not only the aesthetics of the property, but our team’s commitment to re-imagine this property as a 21st century lifestyle center anchored by an inspired collection of eateries, offices, health and fitness centers, and entertainment retailers.”

With this appointment, CREC continues its track record of reshaping the retail blueprint of lifestyle shopping destinations in Florida. Most recently, the firm created and executed a vision for a revitalized tenant mix at Downtown Dadeland. Prior to CREC’s involvement in 2014, Downtown Dadeland struggled to attract retail occupants that boosted foot traffic. CREC has since positioned Downtown Dadeland as Miami’s premier location for chef-driven restaurants, situated in a pedestrian-friendly, open-air environment. The restaurant lineup includes four James Beard Award winners and nominees including Pubbelly Sushi, Harry’s Pizzeria, The Brick and Zuuk.

The Gallery at Beach Place is situated at 17 South Fort Lauderdale Boulevard, just steps from the sand, and directly on the main thoroughfare of Fort Lauderdale Beach’s State Road AIA. The property’s prime location affords breathtaking ocean views and heavy pedestrian and vehicle traffic from neighboring hotel brands, including Marriott, The Ritz-Carlton, W Hotels and Westin. Tourist attractions such as The Fort Lauderdale Air Show and Tortuga Music Festival add seasonal boosts of foot traffic. The area attracts over 13 million annual visitors, spending more than $10.6 billion each year.

Comprised of 95,769 square feet of mixed-use space amid three floors, The Gallery at Beach Place is currently 70 percent occupied, with 32,618 square feet of rentable space available. Thor Equities’ significant investment in infrastructure will transform the property to provide a platform for CREC to attract high-quality tenants to Fort Lauderdale Beach’s newest live-work-play lifestyle center.

CREC Vice President Rafael Romero and Senior Leasing Associate Ariel Bernstein will oversee leasing and marketing The Gallery at Beach Place. Current anchor tenants include CVS, Escapology, Hooters, Lulu’s Bait Shack, and Maui Nix.

 

CREC Arranges $27.4 Million Sale of Turtle Crossing in Metro Fort Lauderdale

Coral Springs, Fla. — CREC has arranged the $27.4 million sale of Turtle Crossing, a 99,174-square-foot shopping center located roughly 20 miles northwest of Fort Lauderdale in Coral Springs.

The property is shadow-anchored by a 174,000-square-foot Super Target, and home to tenants including Enterprise Rent-A-Car, Panda Express, AutoZone, Panera Bread, Buffalo Wild Wings, Vision Works and Chipotle Mexican Grill.

Warren Weiser and Harry Blyden of CREC represented the seller, Turtle Run Venture LLC, in the transaction. There was no broker representation for the buyer, Turtle Crossing Coral Springs LLC, a joint venture between Ross Realty Investments and SunCap Real Estate Investments.

 

 

CREC Completes Office Leases Totaling 13,000 SF in Coral Gables, FL

Carol Brooks

Hemisphere Media Group expands its Coral Gables headquarters; Law firm Kopelowitz Ostrow Ferguson Weiselberg Gilbert opens its first permanent Miami-Dade County office.

The Coral Gables office market is getting an added boost thanks to the expansion of the only publicly-traded, pure-play US Hispanic tv/cable networks and content platform and a Broward law firm opening its first permanent office in Miami-Dade. Hemisphere Media Group, Inc. will relocate and expand its headquarters to 4000 Ponce de Leon Blvd., while new arrival Kopelowitz Ostrow Ferguson Weiselberg Gilbert will open its newest office at 2800 Ponce de Leon Boulevard. The two leases total a combined 13,000 square feet of Class A office space.

Carol Brooks, President of Coral Gables-based CREC, one of Florida’s largest commercial real estate services firms, represented Hemisphere and Kopelowitz Ostrow Ferguson Weiselberg Gilbert in the two transactions. William Holly of Patton Real Estate represented the owner of 4000 Ponce de Leon Blvd., CMC Group.

The leases come as new investment pours into the Coral Gables business district. A $21 million makeover of the neighborhood’s main retail thoroughfares, Miracle Mile and Giralda Avenue, is underway; more than 85 new restaurants have opened in the last five years; and over 1,500 residential units are expected to come online by 2020.

“The Gables is surging as new companies enter what has always been one of Miami’s most desirable submarkets and existing firms expand,” explains CREC President Carol Brooks, who advised both firms in their leases. “Our tenant representation team took the time to learn the needs of Hemisphere and Kopelowitz Ostrow Ferguson Weiselberg Gilbert, and then created a leasing strategy that will meet both firms’ current and future real estate requirements. The result will be new absorption for the Coral Gables office market.”

Hemisphere owns and operates five leading U.S. Hispanic cable networks, two Latin American cable networks, and the leading broadcast television network in Puerto Rico. The firm was located at 2000 Ponce de Leon Blvd., but recently decided to relocate to an 8,000-square-foot space with the goal of modernizing its space and establishing a defined headquarters that could accommodate its entire staff.

“As we have grown, we took on additional non-contiguous space and this move will put us all under one roof, so we can work more efficiently,” says Hemisphere President and CEO Alan J. Sokol. “After surveying the market with CREC, we concluded that 4000 Ponce was the right choice due to the building’s location and modern finishes. We couldn’t be happier with our new headquarters, and we’re thrilled that we’re remaining in Coral Gables.”

Kopelowitz Ostrow Ferguson Weiselberg Gilbert is a full-service South Florida law firm with approximately 45 lawyers that represent clients of all sizes, from entrepreneurs to large public companies. The firm’s main office is in Fort Lauderdale. The new Coral Gables location, which totals nearly 5,000 square feet, opens following the arrival last year of veteran Miami lawyer Bobby Gilbert, who is overseeing and expanding the firm’s complex litigation and class action practice.

“By opening our office in Coral Gables, we’ll be able to continue building our team and providing the full range of services to our clients and co-counsel across South Florida,” says Gilbert, who will manage the Coral Gables office.

About CREC

Founded in 1989 by Chairman Warren Weiser and President Carol Brooks, CREC (Continental Real Estate Companies) is one of Florida’s largest commercial real estate services firms, managing a portfolio of more than 100 office, retail and multifamily properties totaling 11.4 million square-feet. With offices throughout Florida, CREC specializes in asset and property management, leasing, tenant representation, construction management, development dispositions and finance, and creative workout solutions. For more information, visit  www.crec.com.

About Hemisphere Media Group, Inc.

Hemisphere Media Group, Inc. (NASDAQ:HMTV) is the only publicly traded pure-play U.S. media company targeting the high growth Spanish-language television and cable networks business in the U.S. and Latin America. Headquartered in Miami, Florida, Hemisphere owns and operates five leading U.S. Hispanic cable networks, two Latin American cable networks, and the leading broadcast television network in Puerto Rico. Hemisphere’s networks consist of: Cinelatino, the leading Spanish-language movie channel with over 16 million subscribers across the U.S., Latin America and Canada, including 4.5 million subscribers in the U.S. and 12.3 million subscribers in Latin America, featuring the largest selection of contemporary Spanish-language blockbusters and critically-acclaimed titles from Mexico, Latin America, Spain and the Caribbean; WAPA, Puerto Rico’s leading broadcast television network with the highest primetime and full day ratings in Puerto Rico. Founded in 1954, WAPA produces more than 75 hours per week of top-rated news and entertainment programming; WAPA America, the leading cable network targeting Puerto Ricans and other Caribbean Hispanics living in the U.S., featuring the highly-rated news and entertainment programming produced by WAPA. WAPA America is distributed in the U.S. to 5.2 million subscribers; Pasiones, dedicated to showcasing the most popular telenovelas and drama series, distributed in the U.S. and Latin America. Pasiones has 4.4 million subscribers in the U.S. and 10.6 million subscribers in Latin America; Centroamerica TV, the leading network targeting Central Americans living in the U.S., the third-largest U.S. Hispanic group, featuring the most popular news, entertainment and soccer programming from Central America. Centroamerica TV is distributed in the U.S. to 4.0 million subscribers; and Television Dominicana, the leading network targeting Dominicans living in the U.S., featuring the most popular news, entertainment and baseball programming from the Dominican Republic. Television Dominicana is distributed in the U.S. to 3.0 million subscribers. For more information, visit  www.hemispheretv.com.