The City of Lauderdale Lakes Community Redevelopment Agency gave Trammell Crow Co. a five-year exclusive option agreement to serve as the master developer for the 22-acre Commerce Park project in Lauderdale Lakes, Fla. The site can accommodate up to 325,000 sq. ft. of class-A industrial, office or retail space.
“We look forward to working with the City of Lauderdale Lakes to create the best-use development that will attract new companies, jobs and capital investment to the area,” said Robert Abberger, senior managing director of Trammell Crow’s Florida business unit, in a statement. “Our next steps are to conduct a feasibility study, create our master [development] plan and secure entitlements so that we can transform one of the few remaining large parcels of vacant commercial land in Central Broward County.”
Abberger and Court Corbino will handle this assignment on behalf of Trammell Crow. CBRE will handle the brokerage and marketing services for the project.
Franklin Street to Market 146,394 SF of Sublease Space
OfficeMax and Ross have appointed Franklin Street Real Estate Services to sublease five OfficeMax stores and two Ross stores totaling 146,394 sq. ft. in South and Central Florida. The OfficeMax stores are located in Bonita Springs, Orlando, Fort Myers and Naples. The Ross stores are located in Brandon and Fort Myers.
“We’re excited to be working with these two large retailers and are anxious to begin marketing these properties,” said Brian Bern, senior director with Franklin Street, in a statement. “Subleasing the properties will be a challenge, but the lack of new retail development, coupled with the increase in demand for existing retail space, has opened the door for possible new tenants.”
Walmart to Anchor New Shopping Center in Citrus County, Florida
CLW Retail Services Group and Gulf to Lakes Real Estate started site development and building construction for Central Ridge Plaza, a new shopping center in Citrus County, Fla. A 130,000-sq.-ft. Walmart store will serve as the anchor for the center. It is scheduled to open in January 2013.
LA Fitness to Open in Former Border’s Spot in Dallas
LA Fitness signed a lease for a 45,000-sq.-ft. store at Old Town Shopping Center in Dallas. The store will be built on the site of a former Borders Books & Music.
John Zikos, Jonathan Cooper and Chris Booras, of Venture Commercial, and Walt Brown Jr. and Tim Dollander, of Diversified Partners, represented the tenant in the transaction. Elizabeth Allen and Michelle Caplan, of The Weitzman Group, represented the landlord.
Baskins Western and Work Wear to Open Three New Stores
SRS Real Estate Partners negotiated several leases for Baskins Western and Work Wear in Louisiana and Texas.
The retailer’s new locations include a 12,875-sq.-ft. store at Siegen Lane Marketplace in Baton Rouge, La., a 15,750-sq.-ft. store at the Ambassador Way in Lafayette, La. and a 14,000-sq.-ft. store at Katy Ranch in Katy, Texas.
Austin McWilliams, of SRS, represented the retailer in these transactions.
Pine Tree to Construct New Building Near Florida Shopping Center
Pine Tree Commercial Realty will build a 13,200-sq.-ft. retail building on a 1.23-acre outparcel in Mount Dora, Fla. The outparcel is located adjacent to Loch Leven Plaza, a Publix-anchored shopping center Pine Tree purchased two years ago.
The new building could be subdivided into spaces ranging from 1,200 sq. ft. to 2,500 sq. ft. Pine Tree plans to break ground on the project in late 2012, with completion scheduled for the spring of 2013.