Robb & Stucky plans to open an upscale department store there early next year.
The length and value of the lease were not disclosed, as the lease is not signed. Jo Ann Root, marketing director for Mizner Park for Codina Realty Services, tells GlobeSt.com she expects to have a signed lease in three or four weeks.
"I think it points in the direction that Mizner Park is taking for the future," Root says. "People are home-oriented. They are spending more time in their home."
In addition, she says, "There is a lot of new home and condo development in Boca, and people aren't traveling as much. So we wanted something that was going to attract more year-round residents."
Root says the park was also tracking what department stores were doing in the marketplace. They weren't experiencing strong sales, she says.
However, the furniture category saw 8% growth the first several months of this year. "This interested us," Root tells GlobeSt.com.
The Robb & Stucky store will feature a broad range of home furnishings, including home décor and design. Mizner Park is owned by Teachers Insurance & Annuity Association, part of New York-based TIAA-CREF.
Mark Masinter of Dallas-based Harberg Masinter Co. is representing the tenant. Mizner Park will be Robb & Stucky's 14th store. Based in Fort Myers, FL, the company was founded in 1915 by Virgil C. Robb and Harry S. Stucky.
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