Verada, a Brooklyn-based boutique real estate firm specializing in commercial retail space, today announced the launch of retail leasing at 700 SW 7th Terrace in Sweetwater, Florida. Located at the base of Terrazul, a new 22-story student housing development situated near Florida International University (“FIU”), the premier retail space offers 15,442 square feet for lease with 22-foot-high ceilings and 254-feet of wraparound frontage. The retail listing marks Verada’s expansion into the South Florida commercial real estate market as the company aims to provide unparalleled services to both retail landlords and tenants in the area.
The corner retail space at 700 SW 7th Terrace offers several advantages to potential tenants, including the option for a drive through window in addition to forty-six dedicated retail parking spaces. The space also offers a premier location, and is situated on the ground floor of Terrazul, a student housing development consisting of 932 units with a total of 1,201 beds and 647 parking spaces, providing a captured audience of consumers. Terrazul is being developed by AARE Sunbelt, an affiliate of Adam America Real Estate, and JW Capital Management, and is anticipated to be completed by the second quarter of 2024.
Retail users will also benefit from the project’s pedestrian-friendly location across the street from the east entrance of FIU, the second largest university in Florida with almost 60,000 enrolled students across bachelors, masters, and doctoral degree programs.
“The commercial space at Terrazul is highly desirable due its location at the base of a premier student housing development with 932 units as well as being situated across the street from FIU, creating a steady flow of potential customers,” said Brendan Thrapp, managing partner at Verada. “In addition, the corner retail space benefits from more than 56,000 cars that pass by daily and its easy access to U.S. Route 41 and Florida’s Turnpike which further enhances its appeal to potential retail tenants, including grocer/markets, fitness, experiential retail, food & beverage, and health clubs.”
Founded by Nathaniel Mallon and Brendan Thrapp in 2021, Verada specializes in new development landlord representation and has already developed a solid track record of leasing space on behalf of New York developers. The firm leased more than 100,000 square feet of retail space in New York City last year, making Verada one of the fastest-growing companies in the market. Mallon received Costar’s 2022 Power Broker Award for “Most Retail Leased in NYC’s Outer Boroughs” as well as the Real Estate Board of New York’s 2023 “Commercial Sales Brokers Most Ingenious Deal of the Year” award for completing a complex assignment in securing a 30-year lease with an option to purchase what is now a building site in Greenpoint, Brooklyn for his client Brooklyn Brewery’s 41,000-square-foot new headquarters. The deal was secured without construction plans, and without approvals from NYC Department of Buildings and The Department of City Planning.
Verada’s expansion into the South Florida CRE market is a natural next step for the company as many of its current New York-based clients are also developing in South Florida and looking for strong representation. Beyond representing 700 SW 7th Terrace in Sweetwater, Verada plans to continue to offer its services to commercial retail landlords and retail tenants, focusing on delivering exceptional value and expertise in South Florida.
“Verada had an incredibly successful 2022, and we feel now is the right time for us to expand into the South Florida commercial real estate market to take advantage of the growing population, the large amount of development, and tenant demands for retail space,” said Mallon.
Mallon added, “Verada brings a wealth of experience, industry knowledge, and a strong track record to the South Florida market. We offer comprehensive real estate solutions tailored to our clients’ specific needs, and our commitment to personalized service coupled with our strategic approach and deep understanding of local market dynamics sets us apart.”
For further information or to inquire about leasing opportunities at Terrazul, please contact Verada directly.
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