Terra Sells Publix-Anchored Shopping Center in South Florida for $72 Million

January 16, 2018   |   Shopping Center Business

Doral, Fla. — Terra has sold Doral Commons, a 140,000-square-foot shopping center in Doral, for $72 million.

Jamestown LP acquired the asset. Publix anchors the center, which was 95 percent leased at the time of sale to tenants including T.J. Maxx, Citibank, GNC, AT&T and McDonald’s. Doral Commons was initially part of a 100-acre tract acquired by Terra in 2012. The company subdivided the land into commercial and residential uses, completing construction of Doral Commons in 2015. Terra’s 319-home housing development Modern Doral is located adjacent to the retail center.

Target Signs 77,000-Square-Foot Lease with Terra for CentroCity Mixed-Use Development in Miami

February 23, 2021   |   Shopping Center Business

Miami — Target has signed a 77,000-square-foot lease as part of Terra’s CentroCity mixed-use redevelopment located at 3825 NW 7th St. in Miami. Construction is expected to start this summer. Arquitectonica and RSP Architects are designing CentroCity. As part of the CentroCity project, Terra is redeveloping what was previously known as Central Shopping Plaza into a 38-acre mixed-use project.  

Plans for CentroCity include up to 1,200 residential apartments, green space for residents, an office building and a shopping center with 300,000 square feet of retail and restaurant space. CentroCity will be located 2.9 miles from Miami International Airport and will feature three eight-story multifamily buildings with 460 rental apartments. Future phases with additional multifamily units and a 250,000-square-foot Class A commercial office building are also planned.  

The project’s plan includes seven new multifamily buildings lining the property behind the Target-anchored shopping center. The residential buildings will feature a series of courtyards, pool decks and landscaped sidewalks. Units will range from one- to three-bedroom apartments measuring between 500 and 1,250 square feet. Community amenities will include multiple pools, poolside cabanas, barbecue grill areas, a children’s playground, a dog park, resident lounges and game rooms.