Acquisitions
Targeting Value
Terranova provides market knowledge and due diligence to advise and/or joint venture with clients on the acquisition of real estate assets, including forward-looking strategies to enhance their values and maximize return on investment.
Most recent acquisition work includes joint venturing with a major institutional owner in the $52 million purchase of three retail properties on Lincoln Road in Miami Beach, South Florida’s top urban retail destination for both locals and tourists. Terranova also joint ventured in the $39 million purchase of Paraiso Parc, a new Publix-anchored center in the heart of southwest Broward County; advised and represented the buyer in the $19.5 million purchase of the 150,000-square foot AeroTurbine industrial facility in Miami-Dade; and advised the buyer on the $88 million acquisition of Kendall Mall, a Publix-anchored shopping center also in the thriving Kendall region of Miami-Dade. Terranova joint ventured in the acquisition of the former Associated Grocers facility, an 18-acre, 400,000 square foot warehouse property, strategically located between Miami International Airport and Port of Miami, and bought for $15 million, well below replacement cost.
Terranova's acquistions include:
- 3 building, 61,000 square feet of street-level retail on Lincoln Road in Miami Beach, Florida for $52 million.
- $39 million purchase of Paraiso Parc, a new Publix-anchored center in Pembroke Pines, Florida.
- Westfork Plaza, a 251,000 square foot shopping center in Pembroke Pines, Florida for $58 million.
- 8 retail buildings totalling 78,751 square feet and 2 office buildings totalling 118,985 square feet on Miracle Mile in Coral Gables, Florida for $54 million.
- 400,000 square foot warehouse space in Miami for $15 million