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FOR IMMEDIATE RELEASE
Oppenheim Pilelsky Law Firm Successfully Negotiates
Lease-to-Purchase Deal for Old Hollywood Fashion Mall
Attorney
Roy Oppenheim completes one of Broward's biggest real estate transactions
of the year on his daughter's laptop in between ski runs
(Weston,
Florida) - The law firm of Oppenheim Pilelsky announced
it has just closed a $35 million real estate transaction involving
the Hollywood Super Mall (old Hollywood Fashion Mall) located
on Highway 441 in Hollywood. The law firm represented Millennium
Development Enterprises in structuring a 60-year lease with the
property's owners, Hollywood Fashion Mall, Inc. Millennium, a
Weston-based real estate developer, has an option to purchase
the entire property for $33 million after year 10 of the contract,
according to attorney Roy Oppenheim.
Millennium will redevelop the million-square-foot property into an upscale, discount
shopping center, all under air, that will be subdivided into 2000 booths, kiosks, and shops. The new name will be The Millennium… Hollywood's
City Place. Oppenheim says there will be two large food courts, a large entertainment area dedicated to family fun, (including a new carousel
shipped from Argentina), a 35-thousand square foot farmer's market, babysitting facilities, and valet parking.
"This is an incredible opportunity for my client and a great deal for the people
of South Florida who will soon have a new, and exciting place to shop and be entertained," said Oppenheim. "The new mall is expected
to bring in approximately 3.5 million visitors a year and lead to the creation of 2,500 jobs in the area, something I think is so important
in today's economy."
The location was once known as the Hollywood Fashion Mall, anchored by four major department
stores. Soon after closing in 1993, Hollywood Fashion Mall, Inc. purchased the property, renamed it the Hollywood Super Mall, and announced
plans to reopen as an outlet shopping center. But despite those grand plans, nothing ever happened, in part due to complex legal issues.
Finally, the owners decided to find someone who could successfully get the project going.
"We had our eye on the property for a few years," said Ignacio Martinez, chairman
of Millennium Development Enterprises, which has developed shopping centers and office buildings in Weston and Parkland, and whose family
has run the three largest flea markets in Caracas, Venezuela. "All of a sudden the property became available, and we had to act quickly.
Roy and his legal team did an amazing job to make it happen, especially when you consider other law firms failed to get the deal done on
behalf of other clients in the past."
The transaction took only a week and a half to put together.
"I was hours from leaving for a family ski trip to Colorado when I got the call
from Ignacio. I promised him I would get the deal done and I did," said Oppenheim, who has served as Millennium's outside counsel since
the company's inception. "Between email and the telephone, we were able to put the deal together in less than 10 days. A lot of my
work was actually conducted from the top of the Vail gondola where cellular reception is remarkably clear," he added.
The first phase of The Millennium… Hollywood's City Place is scheduled to open
October 1, 2003. Approximately 40 vendors have already signed leases even before any promotion or advertising said Noel Epelboim, president
of Millennium and a partner in the mall project. He said the leasing office would officially open on Monday, April 14. Those interested
in reserving a booth or kiosk can call 954-966-9777 to make an appointment. The mall is located at 5800 Hollywood Boulevard, Hollywood,
Florida, 33021.
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Oppenheim
Pilelsky is Weston's most established law firm concentrating its
practice in consumer litigation, real estate, business, insurance
and Internet-related matters, and select cases concerning personal
injury, wrongful death and medical malpractice. The firm is located
at: 1290 Weston Road, Suite 300, Weston, FL 33326 (954) 384-6114
and at a second office at 100 Tampa Street, Tampa, Florida. Roy
Oppenheim is also founder and principal of Weston Title and Escrow
named as one of the 100 top attorney-owned and operated title
firms by Attorneys Title Insurance. Websites: Oppenheim Pilelsky
(www.oppenheimlaw.com)
Weston Title (www.westontitle.com)
Millennium Group (www.millenniumfla.com).
Press Contacts: Todd Templin or Paul Carson at Boardroom Communications, 954-370-8999, both for Oppenheim Pilelsky.
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