Fort Lauderdale beach retail revitalization sparks new destination locale
CREC ? Florida’s leading, independent, full-service commercial real estate firm ? today announced that more than 22,000 square feet of new leases have been signed in the last 60 days at The Gallery at Beach Place.
Just steps from the sand, Fort Lauderdale Beach’s retail landscape is undergoing a major transformation with a new dynamic in restaurants, shops and lifestyle experiences. The Gallery at Beach Place is its centerpiece, demonstrating strong demand as it attracts a new fusion of tenants.
Since CREC’s retail division assumed the property’s leasing and marketing in early 2017, the 95,769-square-foot asset has increased occupancy from approximately 59 percent to 90 percent. The newly-signed roster at The Gallery at Beach Place includes The Crystal Ballroom, a 12,634-square-foot event venue and planning company; and The Gym, a 5,000-square-foot fitness brand located on the ground floor. Additionally, Fat Tuesdays will be replaced with Philadelphia-based Irish pub and restaurant Con Murphy’s in 3,566 square feet, and Mana Poke in 1,240 square feet.
“The turnaround and success of The Gallery at Beach Place, within a short timeframe, speaks to CREC’s carefully-executed plan that allows the center to now thrive as an entertainment destination, attracting a higher caliber of tenants,” said Carol Greenberg Brooks, president and co-Founder of CREC. “This is a testament to how we are able to strategically pave the way for a property to flourish, drawing in both neighborhood patrons and a wider audience of international visitors.”
The major facelift at The Gallery at Beach Place included an entirely-upgraded common area, with a new performance stage, awnings, flooring, and courtyard furniture and umbrella tables. Repainting of the entire parking garage, and both the interior and façade of The Gallery, with the additional of new signage, lighting and public art, afford a fresh look for the property.
Situated at 17 South Fort Lauderdale Boulevard, the asset’s prime location boasts breathtaking ocean views and heavy pedestrian and vehicle traffic year-round. Attractions, such as The Marriott Towers Vacation Resort and Hotel, The Fort Lauderdale International Air Show, Fort Lauderdale international Boat Show, Tortuga Music Festival and Riptide Music Festival, are a significant draw for the more than 13 million annual visitors, who spend approximately $10.6 billion each year.
CREC vice presidents Rafael Romero and Ariel Bernstein oversee the leasing and marketing of The Gallery at Beach Place.
About CREC
CREC is the leading, independent, full-service commercial real estate company in Florida with offices throughout the state of Florida. Since its founding in 1989, CREC has provided fully-integrated real estate services, including brokerage, leasing, management, tenant representation, receiverships, workouts, as well as debt and equity financing. The company continues to uphold its mission of being “Your Florida Partner” through its commitment to providing clients with unrivaled service and a streamlined approach. Through the years, CREC has built a portfolio of more than 13 million square feet across 100-plus properties throughout Florida. For more information, visit www.crec.com.
