Lease roundup: Plum Market to open in Aventura, Sprouts in Boca Raton, Best Buy in Dania Beach

Medify Air, Wheel Pros and The Lotus Group took out space at newly built industrial park in Tamarac

Miami /
Nov.November 22, 2021 09:45 AM

From top left: Renderings of Plum Market and the Tamarac Business Center near Boca Raton (Meyer Media, Plum Market/Illustration by Steven Dilakian for The Real Deal)

Sprouts Farmers Market I Shadowwood Square near Boca Raton

The Shadowwood Square shopping plaza (Courtesy of Terrranova Corporation)

Organic grocer Sprouts Farmers Market is opening in a 25,837-square-foot space at the Shadowwood Square shopping center near Boca Raton. The lease is for 15 years, according to the retail plaza’s owner.

The opening date will be announced in 2022.

Miami Beach-based Terranova, led by Stephen Bittel, owns the 220,426-square-foot Shadowwood shopping center at 9789 Glades Road.

Other tenants include Bed Bath & Beyond, Old Navy and Regal Cinemas.

The deal shows that despite the pandemic’s effects on the retail market, grocery stores have remained resilient.

Plum Market I Aventura

Rendering of Plum Market (Courtesy of Plum Market)

Organic grocery store Plum Market is opening its first Florida location in a 22,600-square-foot space at Aventura Plaza.

Paco Diaz of CBRE represented the grocer in the lease.

Based in Farmington Hills, Michigan, Plum Market is known for its natural and locally sourced items. Aside from organic groceries, it offers alcohol and chef created cuisine, according to a CBRE news release. It has more than 25 locations across Michigan, Illinois, Indiana, Ohio, and Texas, and it is opening in Hollywood, California and Washington, D.C. Matt Jonna is co-founder and CEO.

Aventura Plaza is a 90,000-square-foot shopping center at 17801 Biscayne Boulevard. Built in 1972, the property’s tenants include Ace Hardware, My Gym Aventura and Anthony’s Coal Fired Pizza, according to the release. The landlord is Sam Management.

Medify Air, Wheel Pros, The Lotus Group I Tamarac Business Center

Rendering of the Tamarac Business Center (Courtesy of Meyer Media)

Air purifiers and filters producer Medify Air, wheels and tires company Wheel Pros, and smoking accessories company The Lotus Group leased space at the Tamarac Business Center.

The recently completed two-building industrial park is now fully leased, according to the owner’s broker.

Chris Metzger and Rick Etner Jr. were part of the Cushman & Wakefield team that secured the leases on behalf of Tamarac Industrial Venture. The entity is a joint venture between Coconut Creek-based Butters Construction and Development and an institutional capital partner.

Medify Air moved into a roughly 115,115-square-foot space in an expansion from its existing Deerfield Beach location. Bob Schneiderman of Colliers represented Medify Air in the lease.

Denver-based Wheel Pros will move into roughly 40,171 square feet of warehouse and distribution space in the first quarter of 2022. The company designs, markets and distributes branded aftermarket wheels, and also distributes performance tires and accessories, according to a release. Reid Bassinger of Lee & Associates represented Wheel Pros in the lease.

The Lotus Group is moving its headquarters to a bigger, 25,020-square-foot space at Tamarac Business Center starting in the first quarter of 2022. The space also will be a warehouse and distribution facility for Lotus. Founded in 1991, Lotus offers lighters, cigar cutters, gift sets, humidors, cigar cases, ashtrays, humidification accessories and butane gas. It was self-represented in the lease deal.

The three companies’ leases are for the Tamarac Business building at 6801 North Hiatus Road. The 180,306-square-foot property was completed this year with 32-foot clearing heights, LED lights, 44 dock-high doors, two ramps, and a 54-foot by 42.5-foot column spacing, according to the release.

The second building, at 6901 North Hiatus Road, was leased to an e-commerce tenant this year. The Cushman & Wakefield team closed that deal as well.

The deals speak to the strength of the South Florida industrial market, with soaring rents amid high demand.

Best Buy I Seagis Dania Beach Cottage

Seagis Dania Beach Cottage industrial-office property (Courtesy of Berger Commercial Realty/Corfac International)

Best Buy Stores leased the Seagis Dania Beach Cottage office-industrial property.

The 1.9-acre property at 2765 Southwest 36th Street has a 7,737-square-foot building, which breaks down to a 1,737-square-foot office and a 6,000-square-foot warehouse, according to the landlord’s broker. The warehouse is fully air-conditioned with three grade-level drive-in doors. The site has a large parking lot with storage.

Best Buy Stores plans to use the property for storage and vehicle parking.

Jonathan Thiel and Keith Graves of Berger Commercial Realty/Corfac International represented Seagis Property Group’s affiliate that owns the real estate. Will Falero and Jeremy Scheck of Colliers represented the tenant.

Seagis, based in Conshohocken, Pennsylvania, has been betting on South Florida industrial properties, underscoring the market’s continued growth amid high demand and low supply.

In October, Seagis paid $8 million for a Miami Gardens warehouse. This came on the heels of the company buying a logistic company’s Doral facility for $19.4 million in September.

Records show Seagis bought the Dania Beach industrial-office property for $2.8 million in August.





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