Terra Group Announces More Tenants For New Broward Retail Center

April 19, 2017   |   South Florida Business Journal

Apr 19, 2017, 12:45pm EDT

NDUSTRIES & TAGS

Commercial Real Estate

By: Brian Bandell

READ ON: bizjournals.com

Terra Group announced new tenants for its retail center at Pembroke Pines City Center, which is currently under construction.

The Miami-based developer previously announced that Publix Super Markets signed a 45,600-square-foot lease at the project. It now says the 200,000-square-foot first phase is 70 percent pre-leased, with additional tenants including Carl’s Patio, Cooper’s Hawk, BurgerFiSmoothie King, PizzaRev, Bento Cafe and the Halal Guys. Outback Steakhouse and City Mattress will occupy stand-alone buildings on the outparcel area.

“The vast majority of residential product in Broward County is located in the suburbs, and the increasing population and rising income levels in Pembroke Pines are driving retail demand and expansion,” said David Martin, president Terra. “Our mission at Terra has always been to develop projects that improve communities, and we’re doing just that with Pines City Center by meeting growing retail demand with a development that caters to residents’ everyday needs.”

The first phase of the retail project at the southwest corner of Pines Boulevard and Palm Avenue should be completed in late 2018. Terra Group acquired the 17.2-acre site for $15.94 million in 2016 from the City of Pembroke Pines.

The developer has a second parcel in City Center under contract with the city and holds approvals for 100,000 square feet of commercial space plus 385 apartments.

Recently, the city completed a $60 million civic building at City Center including a 3,500-seat performing arts center and conference hall, an outdoor plaza, a 10,000-square-foot art gallery and a new city hall.

“We are thrilled at the market’s response to City Center, and we’re pleased to be able to have several high quality retailers and restaurants that are new to the market join phase one,” said Rod Castan, president of leasing and management at Courtelis Co., which oversees leasing at Terra Group’s City Center. “Retailers are attracted to the combination of civic, entertainment, commercial and residential uses in a walkable setting that draws visitors from both the immediate neighborhood and across South Florida.”