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Adler Closes Four Deals at Kendall Market Place

Adler Group Announces 8,840 Square Feet of New and Renewed Lease Deals at Kendall Market Place

MIAMI - (July 8, 2010) – Adler Group, one of Florida’s oldest and largest commercial real estate firms, announced today that company brokers closed 8,840 square feet of new and renewed leases at Kendall Market Place, a 54,757 square-foot mainstay shopping center located in Kendall. The 8,840 square feet of new and renewed lease agreements were inked with popular restaurants and eateries, including Sushi Maki, Chef Chen Chinese Restaurant, The French Bakery and Portofino Coal Fired Pizza.

Sushi Maki, a South Miami-based chain, has leased 2,100 square feet of retail space at 11531 North Kendall Drive, which will serve as the chain’s sixth full-service restaurant and only location in Kendall. The restaurant, which serves Japanese cuisine, is scheduled to open before the end of 2010.

Chef Chen Chinese Restaurant has renewed its lease of 1,440 square feet of retail space at 11557 North Kendall Drive. The transaction makes this year Chef Chen Chinese Restaurant’s 25th year as a tenant of Kendall Market Place.

The French Bakery has renewed its lease of 1,200 square feet of retail space at 11629 North Kendall Drive.

Portofino Coal Fired Pizza is leasing 4,100 square feet of retail space at 11535 North Kendall Drive and is scheduled to open before the end of 2010. This transaction brings Kendall Market Place to 89 percent occupancy. Portofino Coal Fired Pizza offers patrons a selection of traditional coal-fired Italian dishes.

“It’s great to have newer businesses like Sushi Maki and Portofino Coal Fired Pizza join longtime tenants The French Bakery, Chef Chen Chinese Restaurant and a list of companies who have chosen Kendall Market Place and our flexible retail offerings, as the ideal location to grow their business,” said Dan Heisler, executive vice president of Adler Realty Services.

Kendall Market Place, open since 1980, houses about 55,000 square feet of retail space and offers a vast selection of retail options for customers, including grooming salons, restaurants and a bank. Located less than one mile from the Florida Turnpike, Kendall Market Place underwent a $2.5 million renovation in 2008 to modernize the exterior with new lighting and flooring, upgraded signage and landscaping, and to revamp hurricane safety features and additional parking for customers.

“For some time we have been looking at the Kendall submarket and feel that Adler Realty Services has the perfect ‘end-cap’ location for us at the recently remodeled Kendall Market Place with fabulous co-tenants,” said Abe Ng, president and CEO of Sushi Maki. “Kendall is a desirable market with its tremendously dense population and steady traffic. Our new Kendall location will be a wonderful addition to our collection of Sushi Maki restaurants.”

For further information, please contact Dan Heisler at 305-392-4153 or visit www.adlergroup.com.

ABOUT ADLER GROUP
Adler Group and its affiliates offer a seamless network of services designed to maximize the value and strength of the organization’s real estate assets. Throughout its history, Adler Group has developed and acquired in excess of 14 million square feet of industrial, office, retail and residential real estate. Today, by means of relationships with a prestigious list of institutional and private investors and nationally recognized financial lenders, the company owns and manages an extensive real estate portfolio comprised primarily of multi-tenant industrial and office properties located in strategic markets throughout the Southeastern United States.
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