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Pembroke Pines Mixed-Use Retail Development Sells for $56 Million

Publix Supermarket and Burlington anchor the 135,000-square-foot shopping center.

Terra Group’s 16000 Pines Market shopping center has been sold to Apollo Realty Income Solutions (ARIS), a real estate investment arm of Apollo Global Management. The 135,000 square foot retail development is fully occupied and boasts of a tenant mix anchored by Publix Supermarket, Crunch Fitness, Burlington, First Watch Café, Verizon Wireless, Everglades Family Dental, Tropical Smoothie Cafe, Cheddar’s Scratch Kitchen, Jersey Mike’s Subs and an MD-Now Urgent Care Center. Additionally, the property has two standalone units occupied by a United States Post Office branch and a Regions Bank with a drive-thru. 

The purchase of 16000 Pines Market by Apollo Realty Income Solutions underscores the persistent demand for well-positioned and secure retail assets in South Florida. The shopping center is located on 13.2 acres at the notable junction of Pines Boulevard and Dykes Road and was constructed in two phases, spanning from 2020 to 2022.

“Creating a retail environment that meets the needs of today’s consumers is about much more than simply filling storefronts,” David Martin says, CEO of Terra Group, a Miami-based real estate development and investment company. “At 16000 Pines Market, we curated a retail mix driven by restaurants, grocery, and everyday services – tenants that aren’t forced to compete head-to-head with e-commerce when it comes to serving nearby residents. That formula, coupled with strong buyer demand for a top-tier newly developed asset in one of South Florida’s most popular suburban neighborhoods, ultimately led to this sale.”

The Cushman & Wakefield team of Mark Gilbert and Adam Feinstein represented Terra in the transaction.

In 2020, Terra completed the development of Pines City Center, a mixed-use project that includes 300,000 square feet of retail, dining, and entertainment spaces and market-rate residential units. Publix Supermarket, Hobby Lobby and UFC Gym anchor the center’s tenant roster.

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.