The Latest News

MENIN DEVELOPMENT ACQUIRES RESTAURANT PROPERTY 307 E ATLANTIC AVE.

Menin Development has acquired the restaurant space formerly occupied by Luigi’s Coal Oven Pizza in downtown Delray Beach. Located at the intersection of East Atlantic Avenue and NE 3rd Avenue, the approximately 5,000 square foot space is situated in one of South Florida’s most prominent retail/dining areas. The fully equipped, turnkey restaurant is currently the only available restaurant space located on Atlantic Avenue and features a year-round outdoor patio. For further information regarding leasing opportunities, please contact Marc Yavinsky at (561) 282-5715.

More
January 17, 2019|Acquisitions

MENIN DEVELOPMENT ACQUIRES ONE 10 OFFICE BUILDING

Menin Development has acquired the recently renovated One 10 office building on Atlantic Avenue in the heart of downtown Delray Beach for $31 million. Located on the southeast corner of East Atlantic Avenue and SE 1st Avenue, the 50,000 square foot mixed use building combines restaurant, retail, and Class A office space. The fully redeveloped building features Rocco’s Tacos & Tequila Bar and L’Acqua Ristorante Italiano on the ground floor and approximately 40,000 square feet of Class A office space above as well as covered and reserved garage parking. Located next to Rocco’s Tacos on the ground floor, the recently opened L’Acqua will be hosting their grand opening event soon to introduce a new option for Italian fine dining on Atlantic Avenue. The 3,800 square foot space features indoor and outdoor patio seating as well as a view of Delray’s Old School Square. LEASING OPPORTUNITIES • Ground Floor – 2,123…

More
January 16, 2019|General

South Florida’s biggest retail sales in 2018

Investment sales in South Florida remain strong despite the latest wave of store closures across the country. The majority of the top deals in 2018 were for new or recently renovated shopping centers in suburban neighborhoods throughout the tri-county region, according to data from brokerages that include Cushman & Wakefield and Colliers International South Florida. “You’re seeing institutional-level capital invest in the retail space but in centers that have made that investment to keep up with what the shoppers and tenants demand,” said Ken Krasnow, executive managing director of Colliers in South Florida. Krasnow said the successful retail centers have a thought-out mix of tenants, including fitness concepts and destination restaurants. “There’s a reason to go to these centers. It’s stuff you’re not necessarily going to experience in an online-type shopping experience,” he added. InvenTrust Properties buys PGA Plaza in Palm Beach Gardens for $88M InvenTrust Properties Corp. dropped $88…

More
December 21, 2018|General

What’s new in Palm Beach County’s hotel resort scene

Did you know that Palm Beach County is the largest county in Florida? This portion of the Gold Coast includes 39 cities and towns and has been a resort haven since the Belle Epoque (Hello, Palm Beach anyone? Henry Flagler?). Now there are a host of new resorts planned for the region and some makeovers planned for existing ones. ADVERTISING inRead invented by Teads “This destination is constantly evolving and improving,” says Jorge Pesquera, president and CEO of Discover The Palm Beaches, a tourism marketing corporation, in an email interview. “We invite new visitors to discover the Palm Beaches and be among the first to experience our exciting new changes.” Here’s what’s heading to South Florida’s hotel and resort scene. NEW HOTELS Banyan Cay Resort and Golf in West Palm Beach Banyan Cay Resort and Golf in West Palm Beach Banyan Cay Resort and Golf in West Palm Beach is…

More
December 17, 2018|General

Downtown Delray Beach office building sells for $31M

A recently renovated office/restaurant building in downtown Delray Beach was sold for $31 million. RMS Properties IX LLC, led by Roshan Shoffet of Schaumbrg, Illinois, sold the building at 110 E. Atlantic Ave. to Rosebud 110 LLC, managed by local developer Craig Menin. Miami Lakes-based BankUnited provided a $26.5 million loan to the buyer. The building, which was recently renovated, totals 47,718 square feet. It has 5,079 square feet of restaurant space, and the rest is offices. It has 132 underground parking spaces. The building was constructed on the 0.46-acre site in 1976. It last traded for $8.5 million in 2014, and the renovations significantly increased its value at a time when downtown Delray Beach has become a popular dining and shopping destination. Menin said he bought the building because there’s a rising demand for Class A office space in Delray Beach. “The ability to acquire an additional 143 feet…

More
December 11, 2018|General

Delray bookstore changes with times: ‘Now we sell entertainment’

Best-selling author John Green once said that he wouldn’t have a career if it weren’t for independent bookstores. Surely, many debut writers who have gained new fans of their work by frequently hosting readings or signings at local book stores would agree with him. Although many believe that small book sellers are doomed due to the growing takeover of the reader market by Amazon and chains like Barnes & Noble, many independent bookstores are still holding strong. Murder on the Beach, a mystery bookstore nestled in Pineapple Grove Way in Delray Beach, is an example of such book locales that cater to both long-time customers and those who are surprised to discover it while walking around the area filled with restaurants and cafes. Joanne Sinchuk, who founded Murder on the Beach in 1996, says that for her the most challenging aspect of owning an independent bookstore is keeping up with…

More
December 2, 2018|General

Delray City Market’s Team Grows With Professional Food Hall Architect- Hugh Boyd

Delray City Market gains another asset to their team. Hugh Boyd, is principal of Hugh A. Boyd, Architects, a specialty architecture firm based in Montclair, New Jersey, that he founded in 1987. Mr. Boyd has extensive experience in retail and commercial space design, merchandising, and graphic concepts, with particular expertise in the programming and design of public markets. Recently the firm designed the very successful Market at Grand Central Terminal, New York, the redevelopment of Cincinnati’s historic Findlay Market, and new public markets in Portland, Maine and Charleston, West Virginia. Mr. Boyd’s expertise also extends to the study and design of roadside markets around the country, including the highly successful expansion and renovation of Atkins’ Farmers Country Market, in Amherst, MA. For further inquiry, please contact Marc Yavinsky at 561.282.5715.

More
November 28, 2018|General

Menin Development Announces Akira Back for The Ray Restaurant

Menin Development is pleased to announce Akira Back as one of its signature restaurants in The Ray Hotel, which will be located in Pineapple Grove in Delray Beach. The Ray is scheduled to open fourth quarter 2020. Akira Back is a Michelin-starred chef and restaurateur with emphasis on building world-class, one-of-a-kind dining experiences. With 24+ years’ experience of opening exciting, buzz-worthy restaurants across the world. Back’s signature restaurants include: Yellowtail Japanese Restaurant & Lounge at the Bellagio in Las Vegas, Akira Back Restaurants in Singapore, New Delhi, Jakarta, Toronto, Dubai, Bangkok, DOSA and Seoul. Coming soon: Signature restaurants in Beverly Hills, San Francisco and Bali. The star chef will be taking over a 4,200 SF space in The Ray Hotel. Chef Back will be bringing his bold interpretations of Asian fare with American influence. Using only the high-quality ingredients and creating a culture of world-class service. For further inquiry, please…

More
November 6, 2018|General

Delray City Market Receives Final City Approval

Menin Development, Inc. announced it has received final approval from the City of Delray Beach on its signature Food Hall, Delray City Market, to be located 1/2 a block south of downtown Atlantic Avenue. Designed by world-renowned firm, Gonzalez Architects in Miami, Delray City Market is scheduled to be complete in second quarter 2020. – Architecturally significant mixed-use building, a half-block south of Atlantic Avenue in the heart of downtown Delray Beach, FL. – 120,000 square foot, 4 story building – 30,000 square foot food hall – Approximately 30 best-in-class vendors – Live music, cooking classes, guest chefs, events – 3,000 square foot rooftop community garden space – Approximately 200 car, 3 level enclosed parking garage – Uber/ Lyft drop off areas For further inquiry, please contact Marc Yavinsky at 561.282.5715.

More
October 24, 2018|General

Menin Development Announces Interior Designers for The Ray Hotel

Menin Development is pleased to announce the The Ray Hotel’s award winning interior designers, Alessandro Munge from Studio Munge and Therese Virserius from Virserius Studio. Alessandro Munge is the founder and principal designer at Studio Munge, an interior design partner to some of the world’s most iconic brands and top-tier developers. With 20+ years on projects worldwide, some of his recent, significant projects include: • Nobu, Toronto • The William Vale Hotel, Brooklyn • Shangri-La Qiantan, Shanghai • Suites at the Ritz Carlton, Toronto Therese Virserius is the founder and principal designer at Virserius Studio, an interior design firm focusing on unexpected, results-driven hospitality experiences. Their expertise is creating compelling and diverse hospitality experiences throughout the US, Europe, Africa, Asia, and Russia Recent, significant projects include: • The Cosmopolitan, Las Vegas • Paris Marriott, Charles de Gaulle • Hyatt Regency, Montreal • Big Easy Grill + Wine Bar, Durban, South…

More
October 10, 2018|General