REI to open first South Florida store in Boca Raton

New retailers at the mixed-use project include Naked Taco, Sloan’s Ice Cream

Miami /
Jan.January 17, 2020 02:30 PM
A rending of the the project

A rending of the the project

REI is trekking down to South Florida.

The outdoor retailer signed a lease for a 23,000-square-foot store in Boca Raton that’s expected to open this fall, according to a press release. REI Co-op will open at Uptown Boca, a retail and apartment development at Glades Road and 95th Avenue South, east of U.S. 441.

Schmier Property Group, Giles Capital Group and Rosemurgy Properties, in partnership with Wheelock Street Capital, are developing the 38-acre project with 155,000 square feet of retail space and 456 luxury apartments. Apartment leasing is expected to begin in the next few months.

REI’s Uptown Boca location will include a bike shop and personal outfitting services. REI’s other Florida stores are in Jacksonville and Winter Park, near Orlando. The company has 162 stores in 39 states, according to its website. It’s planning to open stores in Gainesville in the spring and in Tampa next year. REI said it’s the largest consumer co-op with more than 18 million members.

The retail component of Uptown Boca is 98 percent leased, according to the release. Tenants include Naked Taco, Sloan’s Ice Cream, Sport Clips, The Joint, Tide Cleaners, L’Eggspress, Chick-fil-A, Silverspot Cinema, Lucky’s Market, Lynora’s Osteria, Olive U Mediterranean Grill, F45 Training, Tipsy Salonbar, Bolay and BurgerFi.

Uptown Boca’s developers closed on a $125 million construction loan for the project last year from Jutland Finance, a subsidiary of British Columbia Investment Management Corp.

They paid $38 million for the agricultural land on the southwest corner of Glades Road and 95th Avenue South, in June 2018.


Related Articles

arrow_forward_ios
From left: MHCommercial Real Estate Fund II's Jordan Paul, Dung Lam and Neil Merin along with the Yamato Office Center in Boca Raton and the Bridge Point Powerline Road in Pompano Beach (NAI Global, LoopNet, Getty Images)
Lease roundup: FirstService leases in Boca, PlantLab in Pompano Beach
Lease roundup: FirstService leases in Boca, PlantLab in Pompano Beach
From left: Lalo Durazo, Ricardo Dunin, Peacock Garden cafe, Gregory Galy and Mark Scheinberg (Getty, Peacock Garden)
Billionaire’s hospitality group buys Peacock Garden in Coconut Grove
Billionaire’s hospitality group buys Peacock Garden in Coconut Grove
Rockpoint's Bill Walton and Keith Gelb with the Shops at Mary Brickell Village (left), 1221 Brickell (middle), and 911 Southwest First Avenue (right) (Rockpoint, Google Maps, Twitter)
Rockpoint’s Brickell bonanza: Firm reaps riches in booming neighborhood
Rockpoint’s Brickell bonanza: Firm reaps riches in booming neighborhood
From left: Rockpoint’s Bill Walton and Keith Gelb, 911 Southwest First Avenue and RPT Realty’s Brian Harper (Rockpoint, Google Maps, RPT Realty)
RPT Realty buys Shops at Mary Brickell Village for $216M
RPT Realty buys Shops at Mary Brickell Village for $216M
Lucid Investment Group's Andrew Rasken with 143 Southwest Ninth Street
Mexican developer-led JV plans Brickell apartment tower
Mexican developer-led JV plans Brickell apartment tower
Candice and Steven Stark with 1371 Royal Palm Way (Getty, Royal Palm Realty)
Luxury carpet mogul drops $17M for house on Royal Palm golf course in Boca Raton
Luxury carpet mogul drops $17M for house on Royal Palm golf course in Boca Raton
From left: Contrarian Capital's Jon Bauer and Pebb Enterprises' Ian Weiner with Meridian Office Center
Pebb JV buys Boca Raton office complex for $30M
Pebb JV buys Boca Raton office complex for $30M
Google Street View of the properties at 551 Southeast Eighth Street and 551 Southeast Fifth Avenue in Delray Beach with CDS International Holdings founder Carl DeSantis (Google Maps, CDS Holdings)
Celsius energy drink investor Carl DeSantis pays $25M for Delray Beach offices
Celsius energy drink investor Carl DeSantis pays $25M for Delray Beach offices
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...