The Riviera Beach, Florida, Board of Commissioners has approved a transaction arranged by CBRE that will make Rafiki Tiki the first tenant of the city’s new and much-anticipated waterfront development. CBRE’s Nicole Fontaine arranged the flagship occupancy for the designated café space, including 1,047 interior square feet and 1,545 square feet on the patio, at the Marina Event Center at 200 E. 13th Street.
“Marina Village was created by the city and its people to change the landscape of Riviera Beach and create a destination that attracts a wide range of individuals and companies to the market. Although the project is a first for the region, those who know Riviera Beach intimately see the potential, and the owner of Rafiki Tiki, Demetri Salloum, is among them,” said Ms. Fontaine, who worked with both Salloum and the City of Riviera Beach to arrange Rafiki Tiki’s debut in the market.
The Riviera Beach Marina Center is part of a five-phase waterfront development that was brought to market in 2015 with the Event Center, and its attached two-story restaurant and café space. A Bicentennial Park to entertain events such as concerts is included in the first phase. The development phases that follow include plans for “restaurant row” pad sites, a public market, a hotel, and office condominiums.
The Marina Event Center benefits from a Riviera Beach Community Redevelopment Agency (RBCRA) effort to create an atmosphere and dining experience that reflects the community’s diversity and provides opportunities for locally-owned businesses to showcase unique culinary offerings. Special financing from the Palm Beach County Black Business Investment Corporation was made available to enhance minority ownership and an additional RBCRA loan fund, administered by Neighborhood Lending Partners, is meant to assist local and other qualified businesses in locating and operating at the Marina.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
