Developer must decide about rebuilding after Plantation explosion - Insurance News | InsuranceNewsNet

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July 8, 2019 Newswires
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Developer must decide about rebuilding after Plantation explosion

South Florida Sun Sentinel (FL)

Jul. 8--The task of rebuilding the site of an explosion in Plantation will likely fall to shopping center operator EDENS of South Carolina, the landlord for a diversity of tenants including LA Fitness, Publix, a stock brokerage and a variety of restaurants.

A national firm founded in South Carolina in the 1930's, EDENS operates more than 120 retail centers nationwide and maintains regional headquarters in Fort Lauderdale, Atlanta, Houston, Boston, Washington, D.C. and Columbia, SC, according to its website.

No EDENS officials could be reached for comment early Monday at the company's regional headquarters in downtown Fort Lauderdale.

In 2017, the company announced the impending arrival of a half-dozen businesses, including Pizzafire, the vacant restaurant leveled by the explosion.

"EDENS is committed to enriching communities where we live and where we do business," said Nicole Shirman, vice president of investment at EDENS, in a statement a the time.

Built in 1978, The Market on University is anchored by a Publix and by an LA Fitness business that was badly damaged by the blast. It underwent a major redevelopment project in 2015.

The property is part of the Plantation Midtown Development District, a special taxing district established in 1988. A seven-member advisory board composed of property representatives has a regularly scheduled meeting set for Wednesday, but it is not known if the damaged plaza will be part of the agenda.

Jaime Sturgis, a commercial real estate broker and owner of Native Realty in Fort Lauderdale, who is not involved with the Plantation center, surmised that the landlord will "have to rebuild the restaurant portion from scratch. I don't think it's something they could salvage."

"I would presume the rest of the center will be reconstructed," he said, with leases and insurance policies dictating responsibility for repairs at other businesses affected by the blast.

Business interruption insurance would be the responsibility of the owners, he said.

___

(c)2019 the Sun Sentinel (Fort Lauderdale, Fla.)

Visit the Sun Sentinel (Fort Lauderdale, Fla.) at www.sun-sentinel.com

Distributed by Tribune Content Agency, LLC.

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