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Monday, March 11, 2013

Giraffas Brazilian Steak & Burgers Coming to Pompano Citi Centre

FOR IMMEDIATE RELEASE

PALM BEACH, Fla. – Sterling Organization, a privately owned retail real estate investment and services company headquartered in Palm Beach, announced that it has signed lease agreements with Giraffas, a Brazilian Steak & Burger restaurant, and CPR Cell Phone Repair. Both businesses will be located at Pompano Citi Centre at 1955 N. Federal Highway, Pompano Beach, FL.

Giraffas, which has close to 400 locations in Brazil, signed a 10-year lease agreement for 2,900 square feet at the shopping center. This will be Giraffas’s second restaurant in Broward County and its sixth in South Florida. The restaurant offers a multi-cultural Brazilian menu featuring steaks, burgers, farofa, salads, and pasta plus a healthy kid’s menu. Konover Stern Group Inc. represented Giraffas.

CPR Cell Phone Repair signed a 5-year lease agreement for a 1,313-square-foot space at the shopping center. CPR specializes in repairing cell phones, smart phones, computers, laptops, game consoles, cameras, mp3 players and other electronic gadgets. The franchise, originating in Orlando, currently has 12 stores in Florida. APE Realty Inc. represented the franchisee.

“We are pleased to be bringing Giraffas and CPR Cell Phone Repair to Pompano Citi Centre,” said Greg Moross, COO of Sterling Organization. “They are fresh concepts that will serve the community around the center well and will contribute to our goal of making Pompano Citi Centre the area’s destination shopping center.”

At 908,000 square feet and spanning almost 60 acres, Pompano Citi Centre is the largest critical mass of retail space in northeast Broward County. Sterling Organization, through its fund, Sterling Value Add Partners, LP, acquired 393,156 square feet in April of 2012 which includes anchor stores JC Penney, Ross Dress for Less, Big Lots and Office Depot. The center is also anchored by Lowe’s, Macy’s and Sears, which own their respective parcels. The center was originally developed in 1970 as Pompano Fashion Square, and was redeveloped into an open-air center in 2006. It is located at the intersection of Federal Highway and Copans Road.

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About Sterling Organization

Sterling Organization is a vertically integrated private equity real estate firm that has an established track record of providing exceptional risk-adjusted returns to its partners, in both relative and absolute terms. The company is focused on investing in value-add anchored retail real estate assets in select major U.S. markets on behalf of Sterling’s principals in partnership with the highest quality institutional and high net worth investors. Sterling Organization currently owns retail and commercial real estate in Arizona, Colorado, Florida, Georgia, Illinois, North Carolina, Tennessee and Texas, with an aggregate value approaching $1 billion. Sterling Organization is headquartered in Palm Beach, Florida.

 

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