As Stiles makes progress toward the completion of its mixed use redevelopment, Shops at One Plantation, new leasing activity underscores the shopping centre’s transformation into a destination place. World of Beer, Jason’s Deli, L’acqua Nail Spa, TCBY and Ubreakitifix signed new leases at the center totalling nearly 13,000 square feet. This plans to be the one of the first World of Beer locations to offer a full food menu.
Ubreakitifix recently opened while the other four tenants plan to open in the first half of 2014 after construction is substantially complete. FedEx Office and McDonald’s have renewed leases and relocated to adjacent outparcels where they are currently open. Realty Associate Mike Carpenter and Vice President Ryan Karlin, of Stiles Realty, represented the owner in the lease transactions.
“We are excited about the momentum building at Shops at One Planation with the opening of several national tenants,” said Carpenter. “Now that the adjacent apartment community is complete and leasing well, we are seeing more interest from strong national and regional brands who aim to capitalize on the local traffic. One Planation has two important benefits – high visibility and local traffic – and retailers are noticing.”
Shops at One Plantation is located at 1663 University Drive at the northwest corner of University Drive and I-595 – the southern gateway to Plantation’s Midtown District. Scheduled for completion in June 2014, the 65,000-square-foot renovation project is located just north of One Plantation, a new 321-unit luxury apartment community developed by Stiles in 2013. The two projects are planned to be connected by a proposed pedestrian pathway. The reconfiguration and renovation of Shops at One Planation will create curb appeal and an improved customer experience with easier access and traffic flow. The commercial center will remain in operation throughout the reconstruction period.
At 72 percent leased, other tenants include International House of Pancakes (IHOP), Goodyear, Big Frog, Vigneto’s Italian Grill and SugArt. As part of the redevelopment, IHOP will relocate within the center and plans to be operating by the close of 2013. Stiles Realty is targeting additional local, regional and national tenants to fill the remaining 20,000 square feet of space. According to Karlin, Stiles is executing a plan to maintain tenant satisfaction and increase tenancy during the construction period. As a part of this, several tenants have been relocated within the center to create storefront accessibility.
“Redevelopment at an operating center can be very challenging in terms of maintaining tenant and customer satisfaction,” said Karlin. “In addition to accommodating relocations, Stiles is providing directional and store signage as well as lease incentives to existing tenants. Stiles Property Management and Stiles Realty have been working as a team to ensure that we are accommodating our tenants as best as possible while quickly responding to their needs.”
Carpenter noted that in securing the most recent leases, Shops at One Plantation’s demographics, traffic counts and proximity to major highway I-595 were key factors. “Within a five-mile radius there are more than 332,000 residents with an average household income of $63,000,” said Carpenter.
Stiles is a full-service commercial real estate firm with a clear mission: Invest. Build. Manage. Stiles services include development, construction, tenant improvement, realty, property management, architecture, acquisitions and financing. Headquartered in Fort Lauderdale, Stiles also has regional offices in Miami, Fort Myers, Tampa and Orlando, Florida. Stiles is responsible for more than 37 million square feet of office, industrial, retail and mixed-use residential projects throughout the southeastern United States. For more information, please visit http://stiles.com or call 954-627-9300.
For leasing information contact Mike Carpenter at 954-627-9400 or Mike.email@example.com.