In Royal Palm Beach, the Main Street at Tuttle Royale development has recently announced its list of high-end tenants. Positioned at the intersection of Southern Boulevard and U.S. 441, the project is part of the larger Tuttle Royale initiative covering 41 acres. According to Brian Tuttle, the developer, the total budget for the mixed-use development is $550 million, of which $400 million is earmarked for the initial phase.
The retail space within the complex spans approximately 400,000 square feet and is over 60% leased. Tenants lined up include Fresh Market occupying 26,000 square feet, a 31,398-square-foot Bowlero bowling alley, a 25,389-square-foot iPic dine-in cinema, LA Fitness with 50,000 square feet, and an Improv comedy club taking up 19,919 square feet. The culinary offerings will feature Cheesecake Factory, Ruth’s Chris Steakhouse, Tommy Bahama Marlin Bar, and North Italia. Retailers such as Anthropologie, Lululemon, Sephora, Urban Outfitters, American Eagle, and Free People are also on the tenant roster.
Warren Dauber of Newmark oversees retail leasing for the project. Leasing activities are currently paused, as Tuttle believes rents could increase after groundbreaking takes place.
Brian Tuttle pointed out three key factors attracting tenants. The location boasts a daily vehicle count of 275,000, one of South Florida's highest. Additionally, strong demographics surround the project, with average household incomes exceeding $100,000 within a 15-minute drive radius. Lastly, the nearby Wellington Mall's ongoing foreclosure lawsuit has influenced tenants to prefer a lifestyle center over a traditional mall.
The development also offers unique amenities. "Our center was designed around a three-acre park which will host new activities each month," Tuttle said, citing plans for seasonal festivals, amusement park rides, and more. A one-mile jogging path will also be part of the project.
In terms of residential and office space, the complex will feature 401 apartments above the retail sector and buildings rising up to seven stories. Additional components include a 125-room hotel, 82,875 square feet of mostly medical office space, and 3,435 parking spots, of which 2,744 will be in parking garages.
As for the larger Tuttle Royale development, approvals are in place for 1,100 apartments, 106 single-family homes, a 1,500-student charter school, and a city park. Apartment communities by The Related Group and FCI Residential are already operational, and Lynd Development has recently initiated construction on additional apartments.
