Commercial brokerage CBRE has been hired to market a piece of the massive Riviera Beach Marina redevelopment project.
The firm is tasked with finding tenants for three waterfront restaurant sites dubbed “Restaurant Row” by the developers. Renderings show that the sites will face the marina’s dockage, which is situated on the Intracoastal Waterway.
“There are few locations available like this anywhere in Florida,” Tony Brown, Executive Director of the Riviera Beach CRA, said in a news release. “We’re looking for restaurant operators who can deliver an experience that is authentic to our spectacular waterfront location, and one fully vested in becoming a vital part of the multi-million dollar transformation underway at the Riviera Beach Marina.”
The three sites range in size from 5,126 square feet to 8,722 square feet. So far, Nicole Fontaine of CBRE said she has seen interest from local restaurateurs in the tri-county area. And to help facilitate those interests, the city’s Community Redevelopment Agency has created a small business loan program for “qualified operators.”
The Riviera Beach Marina is a total redevelopment of the city’s docking facility. Viking Developers is funding $336 million of the $375 million to build the project, with the remaining money coming from public sources. Viking has a 50-year lease to operate the marina.
The 26-acre project’s first phase, which broke ground last year, includes a two-story convention center, upgrades to the existing docking facilities and Bicentennial Park, plus new commercial and retail space.
Its second phase, which is slated to break ground in 2016, will include residential, hotel and office buildings. The whole project is expected to take 10 years to build. — Sean Stewart-Muniz
Source: The Real Deal