Terranova Corp. has signed international retailer Staples as an anchor tenant at Pompano Marketplace in Pompano Beach, Fla., a deal that brings the shopping center to 96 percent occupancy and gives Staples its first Broward County location.
Terranova Director of Leasing Mindy McIlroy and Commercial Associate Marsha Griffiths represented the landlord in the 10-year lease, valued at nearly $3.5 million. Staples is taking over 22,000 square feet of space, formerly occupied by Baer’s Furniture, with plans to open its new store in the fourth quarter of 2006.
The deal is a first between Terranova Corporation and Staples. The office supplies store operates over 1,700 retail stores throughout the United States and Canada, but previously did not have a presence in Broward County.
Pompano Marketplace is in Pompano Beach, on Federal Highway. The city’s business and industrial parks are growing hubs of regional commercial activity, while its oceanfront is experiencing rapid residential redevelopment.
Staples carries over 7,000 brand name products for businesses and home offices, including supplies, furniture, small business machines, computers and peripherals. Staples is traded on the NYSE with a market capitalization of over $18 billion.
The tenant mix at Pompano Marketplace includes Stein Mart, Jo-Ann Fabrics & Crafts, Dollar Tree and Carrabba’s Italian Grill.
Terranova Corporation, South Florida’s leading commercial real estate advisory firm, currently is involved with commercial real estate assets for its clients and its own portfolio, valued at over $1.5 billion. The company offers complete commercial real estate services.