Polsinelli, an Am Law 100 firm with more than 950 attorneys in 21 offices nationwide, recently represented Tricera Capital in the $17 million sale of Society Las Olas Retail, a roughly 16,500-square-foot space at 301 Southwest First Avenue in Fort Lauderdale. The property was acquired by PMG-Greybrook Riverfront LLC, with the deal closing on February 18, 2022.
Tricera and Merrimac acquired the property in 2020 for $3.8 million, with Polsinelli representing them in the initial acquisition as well. The venture had already leased half the space to first-to-market tenants of national prominence before closing the purchase and ultimately bringing it to 100% occupancy within a few months.
Society Las Olas is the premier mixed-use project along the revitalized Riverwalk. Tricera’s partner, Dev Motwani-led Merrimac Ventures, has been a driving force in the neighborhood’s reemergence. Merrimac acquired the former Las Olas Riverfront complex and brought in PMG to develop Society on a portion of the property before partnering with Tricera to acquire and activate the retail component. Merrimac also owns the adjacent property and operates the Wharf Fort Lauderdale and Rivertail with Breakwater Hospitality Group.
The ground-floor space is occupied by Thompson Hospitality, which operates two of the company’s popular concepts in separate units: Matchbox Restaurant and Big Buns Damn Good Burger Co. Other tenants include casual health food restaurant Pura Vida’s first Fort Lauderdale location and New Jersey-based gastropub Asbury Ale House.
The Polsinelli team was led by shareholders Eric Greenfield and Patrick Elder and included associate Nataly Caras.
Polsinelli is an Am Law 100 firm with 950 attorneys in 21 offices nationwide. Recognized by legal research firm BTI Consulting as one of the top firms for excellent client service and client relationships, the firm’s attorneys provide value through practical legal counsel infused with business insight, and focus on health care, financial services, real estate, intellectual property, middle-market corporate, labor and employment and business litigation. Polsinelli PC, Polsinelli LLP in California.