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LAS OLAS RIVERFRONT UP FOR SALE
PRIME VENUE EXPECTED TO TEST RETAIL LIMITS IN SOUTH FLORIDA
Released September 1, 2003
Hollywood, Fla. -- Swerdlow Group today announced that it
has retained CB Richard Ellis to market the sale of Las Olas Riverfront,
the 259,000 square-foot retail entertainment center in the heart of downtown
Fort Lauderdale along the Riverwalk and New River. Las Olas Riverfront
serves as one of the Fort Lauderdale's biggest tourist destinations,
strategically situated in the midst of the performing arts area of the
city, with the center a popular haven for local professionals and residents
who enjoy the diverse mix of restaurants, retail, special events and
cinemas.
According to the South Florida Business Journal, which broke news of
the impending sale, "It's little surprise Las Olas Riverfront in
downtown Fort Lauderdale hit the sales block this month. There's even
some speculation that unchecked investment fervor, when paired with Las
Olas Riverfront's prime venue, could mean pricing will reach the stratosphere."
Swerdlow Group has not announced an asking price, preferring instead
for the robust market conditions to dictate the selling price.
Las Olas Riverfront is located at 300 SW 1st Avenue, one block west of
Andrews Avenue and one block south of Broward Boulevard, within easy
walking distance of the Broward Center for Performing Arts, Museum of
Discovery and Science, Museum of Art, and many other local cultural attractions.
Visitors have the ease of accessing Las Olas Riverfront by land or water,
with the center being one of the most popular water taxi stops in all
of Fort Lauderdale.
The center's tenant mix includes Sunrise Cinemas with 15 screens featuring
first-run Hollywood and specialized art films. Restaurant options range
from five-star dining with casual spots such as the ever-popular Dan
Marino's Town Tavern and the old-style Florida seafood grill, Ugly Tuna
Saloona, to theme dining such as the Mexican Olé Olé and
Argentinean Argie Grill, or the finest Italian at Mezzanotte and contemporary
American cuisine at Max's Grille. Retail venues at the open-air plaza
include an array of shops and kiosks including everything from designer
clothing, shoes, and accessories to fine jewelry, candles and other specialty
shops. Highlights include Stuart Norman, Palm Produce Resortwear, cigar
shop Havana Republic, Argenti Designer Jewelers and Key West Body and
Scent among others.
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