Home Goods Anchors Terra’s Doral Square With 26K SF Lease
By Mark Hallum October 7, 2022 12:52 pm
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Doral Square is leasing up with Home Goods signing a 25,800-square-foot deal, making it the anchor tenant of the freshly repositioned asset.
Residential and commercial development firm Terra announced a slew of recent leases accounting for a third of the 150,000-square-foot shopping center in Doral, Fla. The new deals bring the entire shopping center to capacity, according to the landlord.
Terra declined to provide the asking rent or the length of the lease for Home Goods. The shopping center is at Doral Boulevard and 87th Avenue near downtown Doral.
“Retailers are expanding to suburban markets where they are seeing the most population growth,” David Martin, CEO of Terra, said in a statement. “These tenants are looking for lifestyle-centered developments in thriving suburban communities that offer surrounding residents live-work-play environments.”
Rod Castan of Metro Commercial Real Estate represented Terra in the deal, but it is unclear who represented Home Goods in the negotiations. Home Goods did not immediately respond to a request for comment.
Doral Square was recently refinanced with a $47 million loan from Ocean Bank in July after the firm purchased the asset for $12.5 million in September 2017.
One Medical took 4,643 square feet in what will be the urgent care brand’s first foray into South Florida after the company announced that it would be expanding into Miami back in May.
Pet Supermarket also recently took 5,846 square feet, Paradise Grills leased 5,244 square feet, First Watch leased 3,750 square feet, Nacion Sushi took 3,583 square feet, El Toro Loco leased 2,342 square feet, Lima Bakery took 1,475 square feet, European Wax Center leased 1,435 square feet, Jersey Mike’s took 1,290 square feet, and AT&T leased 1,290 square feet.
In May 2021, Terra signed UFC Gym, a franchise for the chain owned by former MLB player Alex Rodriguez’s investment firm, to 36,500 square feet in a slot formerly occupied by 24 Hour Fitness before the company declared bankruptcy and closed 130 locations.
Mark Hallum can be reached at mhallum@commercialobserver.com.
