As 2014 comes to a close, Investments Limited looks back over what has truly been a banner year. We have exceeded our expectations for the year in our 3 core competencies: Acquisition, Property Management and Leasing.
Investments Limited is continuing its rapid growth through the acquisition of numerous properties, even branching out into new areas outside of our core geographic focus. Since January of 2014, we have acquired over 30 properties, ranging from a small residential condominium to a 3-property retail portfolio. Some of our notable acquisitions include:
- West Boca Place (8177 Glades Rd, Boca Raton) – 8.6 acre, 94,000 sq ft shopping center home to Office Depot, Party City, Burger King, and Mattress Firm
- Boca Pier (20665 Lyons Rd, Boca Raton) – 4 acre, 3 building site, with a PNC Bank, Pier 1 Imports and Boca Raton Regional Hospital Urgent Care Center
- LA Fitness Building (1000 E Hillsboro Blvd, Deerfield Beach) – 2.1 acre, 86,000 sq ft office building with LA Fitness occupying most of the ground floor
- One Royal Palm Place (1877 S Federal Hwy, Boca Raton) – 3-story, 32,000 sq ft Class A Office building
- Meadow Reach Apartments (1220 NW 13th St, Boca Raton) – 120 unit apartment community just off Glades Rd, near Boca Raton High School
- 601 North (601 N Ocean Blvd, Boca Raton) – 22 unit apartment community on A-1-A, directly across the street from the beach
Along with growth through acquisition, we have completed many renovation and improvement projects on our existing properties. Some of these projects were as simple as a new coat of paint, other properties received a completely new facade, and a few other properties were demolished to make way for new and exciting retail projects. Some of our major renovation projects include:
- 50 – 120 Glades Rd, Boca Raton: This was an old cement factory that was demolished and the land was cleared to make room for a major retail center to be located on the corner of Glades Rd and Dixie Hwy.
- Fifth Avenue Shops, Boca Raton: This power-center is undergoing substantial renovations, including a brand-new facade, coinciding with the expansion of the existing Publix Supermarket which is significantly increasing their space.
- Island Shores / Waterway Village Apartments, Greenacres: Both of these communities were upgraded and given new paint schemes.
- Plum Park, Boca Raton: This large office/retail park is currently undergoing a major transformation aimed at making the center more retail/restaurant oriented; it had previously been mainly office use.
- Hillsboro Executive Center, Deerfield Beach: This is a 6-building office park located along I-95; each building is being given a new facade and modernized look.
We purchase properties and spend a lot of money making them look nice, all with leasing in mind. From the small storage unit to the 10,000 sq ft office space, each lease is equally important to us because that is what we do: we lease space. This year, we have signed leases to several national tenants including:
- Blaze Pizza: Fifth Avenue Shops, Boca Raton
- Jimmy John’s Subs: 2001 NW 2nd Ave, Boca Raton
- Ivivva: Royal Palm Place, Boca Raton
- Dunkin Donuts: 331 Yamato Rd, Boca Raton
- Original Brooklyn Water Bagel Company: Fifth Avenue Shops, Boca Raton
Along with signing new leases, we have also helped several tenants expand into additional space, relocated into large spaces and even open additional locations:
- Publix: The existing Publix in Fifth Avenue Shops is being torn down along with the spaces to the immediate north, and a brand new, larger Publix is being built in its place
- Hotdogopolis: Casual dining restaurant located in northeast Boca Raton is opening additional location in West Boca Place
- Ninja Spinning Sushi Bar: Expanding into the space to their immediate west, located at 20 N Federal Hwy
- Boca Bike Shop: relocated from 883 E Palmetto Park Rd to a large space at 791 E Palmetto Park Rd in Boca Raton
Our residential portfolio consists of a variety of units, from single-family homes to 1,500+ unit apartment communities, concentrated in two areas: South Florida and Boston, MA. Investments Limited relies on the skill of its residential leasing agents and property managers to maintain well-above market occupancy rates – this is a result of low turnover of residents and the competency of our team to fill vacancies quickly.
It has been an amazing year at Investments Limited. We are looking forward to continued success in 2015 fueled by new acquisitions, asset re-positioning and the tireless efforts of our entire Investments Limited team!