Elit Breaks Ground on Miami-Area Retail Development
- Jun 27, 2018
Elit has begun work on a retail center in Miramar, Fla., dubbed The Grove at Miramar. The company already secured several tenants for the $15 million, four-building project. GD Construction is the general contractor of the retail plaza, which is slated for completion in July 2019.
The Miami-area retail center will be situated on the southeastern corner of Miramar Boulevard and South Flamingo Road, occupying about 5.6 acres. The Grove at Miramar is set to feature up to 45,000 square feet of leasable space, more than 200 parking spaces as well as restaurants, physicians or financial institutions. Gallo Herbert Architects is the designer of the development and plans to incorporate several pedestrian sidewalks and landscaping.
The developer already obtained two pre-leasing agreements. The Learning Experience, an education and childcare franchise, signed on at The Grove for 10,000 square feet. Den-Vest, designer of turn-key, fully integrated dental offices and dental practice equipment, will occupy 1,400 square feet. Horizon Properties is handling leasing efforts for the property.
“Over the last 10 years, the City of Miramar has been a hotspot for commercial and residential development. With its strategic location and sophisticated design, The Grove will offer tenants premium commercial space in a well-travelled area,” said Victor Taurizano, broker manager at Novus Realty & founding partner of Elit, in a prepared statement.
Miami’s retail market has been very active. At the end of May, Su Investment Corp. secured $10 million to refinance Bird Square Plaza, a grocery-anchored shopping center.
Rendering courtesy of Elit