January 19, 2015
HomeGoods And Pollo Tropical Joining Menin Development
HOMEGOODS AND POLLO TROPICAL JOINING MENIN DEVELOPMENT
PALM BEACH, FLORIDA—January 19, 2015 – Menin Development is pleased to announce that it has signed two (2) new leases at the Shoppes at St. Lucie West in St. Lucie West, Florida. HomeGoods will join Publix, Burlington and LA Fitness as the fourth anchor in the 250,000 square foot shopping center. The brand new 20,500 square foot store will be constructed in the existing shopping center located between Publix and Burlington. Pollo Tropical will also be joining the center in a brand new 3,700 square foot free standing building on an outparcel location. Construction has commenced and both are projected to be open third quarter of 2015.
The recent upgrades and additional anchors to the Shoppes at St. Lucie West along with the demand of exceptional retail on the St. Lucie West Boulevard corridor has likely contributed to this leasing activity taking place at the shopping center. There has been an increased demand among retailers and businesses in the St. Lucie West market for best in-class properties. In addition to these recently executed leases, Menin is in various stages of lease negotiations with a number of new and exciting tenants and expects positive leasing activity to continue in 2015.
About the Shoppes at St. Lucie West
The Shoppes at St. Lucie West, originally constructed in 1993 and acquired by Menin in 2003, currently consists of approximately 250,000 square feet, with an adjacent development parcel that will allow the construction of an additional 140,000 square feet of retail space. In 2014 Burlington and LA Fitness joined Publix replacing Sears which closed in 2012. At the same time, Menin performed an extensive renovation of the Shopping Center totaling approximately $15 million and Publix underwent an interior renovation of their store. The addition of HomeGoods and Pollo Tropical are part of the ongoing improvements taking place at the shopping center. Prime roadside frontage retail space, outparcel opportunities and the adjoining 13-acre parcel are all actively being marketed. Upon completion, the Shoppes at St. Lucie West will consist of 400,000 total square feet. The Shoppes at St. Lucie West is located at Bethany Drive and St. Lucie West Boulevard in St. Lucie West, Florida.
About Home Goods
HomeGoods, a destination for off-price home fashions introduced in 1992, offers exclusive home fashions with a broad and fresh array of exciting products from around the world, such as giftware, home basics, table-top, accent furniture, lamps, rugs, bath and bedding, decorative accessories, children’s furniture, seasonal merchandise, and wall décor. HomeGoods operates more than 450 stores in 43 states and Puerto Rico. with plans to continue significant growth over the next several years. HomeGoods is a division of the TJX Companies, Inc., the leading off-price retailer of apparel and home fashions in the U.S. and worldwide, ranking No. 108 in the most recent Fortune 500 listings. With more than 3,200 stores in 6 countries and 3 e-commerce sites, TJX Companies is viewed as a global, off-price, value retailer. In addition to HomeGoods, TJX Companies operates T.J. Maxx and Marshalls (combined, The Marmaxx Group), HomeGoods and Sierra Trading Post in the United States; Winners, HomeSense, and Marshalls (combined, TJX Canada) in Canada; and T.K. Maxx in the United Kingdom, Ireland, Germany, and Poland, as well as HomeSense and in the U.K. (combined, TJX Europe).
About Pollo Tropical
Pollo Tropical, a subsidiary of Fiesta Restaurant Group, Inc., is a Caribbean-inspired fast-casual concept known for its fresh, flame-grilled chicken marinated in a proprietary blend of tropical fruit juices and spices. Other craveable island favorites are Mojo Roast Pork and made-from-scratch sides including rice, beans, yuca with garlic sauce, sweet plantains and more. Menu items like the Tropical Citrus Chicken Salad, Guava BBQ Pork Sandwich and Create Your Own TropiChops® can be customized with 10 zesty tropical signature sauces on Pollo Tropical’s famous Saucing Island. Founded in 1988, the Miami-based company currently owns and operates more than 125 locations in Florida, Georgia, Tennessee and Texas, plus five licensed restaurants on college campuses and more than 30 franchised locations throughout the Caribbean, Central America, South America and Puerto Rico. For more information, visit Pollo Tropical’s website at www.pollotropical.com.
About Menin Development
Menin Development, Inc is a privately held owner, developer and manager of commercial real estate properties. Founded by Craig I. Menin in 1985, the company is headquartered in Palm Beach, Florida. Menin, the developer and owner of over $1 billion of prime retail properties throughout the Southeast, has a current portfolio of 800,000 square feet of existing, high-quality community and grocery-anchored centers as well as another 2.1 million square feet under development. Throughout its history, Menin has acquired and/or developed in excess of 3 million square feet in Florida, Virginia, North Carolina, Louisiana and Tennessee
For more information on leasing, contact Kate Gilbert (561) 716-5897 or email: kgilbert@menin.com.