Notable Retail Leases Signed in South Florida Q3 2018

Oct 23
Notable Retail Leases Signed in South Florida Q3 2018

We’ve compiled a comprehensive list of the top retail leases signed by square footage in South Florida during Q3 2018.

While the headlines are focused on the challenges and closures of major chains such as Kmart, Sears, and Sport’s Authority, the retail leasing market in South Florida remains strong as evidenced by some major leases signed in the 3rd quarter and new retailers entering the market.

Retail leasing activity in South Florida remains robust. Vacancy rates overall remain at historically low levels, with Miami and Fort-Lauderdale both at 3.8%. The coming quarter should be a busy one, with a flurry of activity from retailers and developers vying for the best real estate left behind by the closures of Toys R Us, Sears, and Kmart.”

Gabriel Navarro, Principal, MMG Equity Partners

Industry executives gathered at the Commercial Conference & Expo 2018 on October 19th, hosted by the Miami Association of Realtors, to discuss trends and state of the market. Interesting panelist comments included:

The reality is retail vacancy in South Florida is 4%. Nationwide, the retail landscape is different, but even then you’ve had more business open than close in the last year.”

Rafael Romero, Vice President, CREC

 

On a national level, the reality is 12,000 new stores opened versus 8,000 closed in the last year. There are head winds no doubt – interest rates are up, construction costs are up, but in many ways that tempers development and the amount of space coming on the market, which is not necessarily a bad thing.”

Rod Castan, President Leasing and Management Division, Courtelis Company

Luckys Market South Florida Commercial Real Estate

Top Retail Leases in South Florida – Q3 2018 (Alphabetically by Submarket)

SubmarketProperty AddressTenantSFLandlordLandlord RepTenant Rep
Boca Raton499 N.E. Spanish River BlvdLucky’s Market25,500Cinderella PropertiesPeter WolffJohn Ellis
Boca Raton5740 N Military TrlBento Asian Kitchen + Sushi3,000Schmier & FeurringShana Pasas
Cooper City3350 N University DriveLucky’s Market30,000Diversified Cos.John Ellis
Dania Beach301 Bryan RdBento Asian Kitchen + Sushi3,000KimcoSpencer Phelps
Doral5801 NW 107 AveBank of America2,200EHOF Doral Retail LLCDaniel PouJohn Van Lith
Doral5801 NW 107 AveBanfield2,800EHOF Doral Retail LLCDaniel PouIvo Tsinev
Fort Lauderdale2400 N Federal HighwayShake Shack3,600EdensJennifer HoustonPaco Diaz
Fort Lauderdale6401 N Andrews AveWalk on Bistreaux & Bar8,500KimcoSusie HazziJon Scheumann
Hialeah901 E 10th AveThrift by the Pound6,245SagloCarlos Guzman
Homestead907 N Homestead BlvdWells Fargo3,300KimcoSusie HazziRuss Bornstein
Homestead3310 NE 8 StreetRacetracGroundleaseMMGGabriel Navarro
Jupiter3757 Military TrailSprouts30,900KonoverZach Zeldman
Kendall8787 SW 124 Ave, MiamiFloor & Décor82,311BerkowitzMichael BerkowitzMelody Spano
KendallDowntown DadelandEmpire Social4,000Duncan HillsleyRafael Romero
Kendall120th Street and 137th AveWawa2 acresLeon MedicalPaco Diaz
Kendall12528 SW 88 StreetLucky’s Market23,000SterlingAdrian Jimenez, Eddy SoleraJohn Ellis
Miami1055 W Flagler StFamily Dollar20,000Mark ShubArnaldo Cantero
Miami6971 SW 24 STWawa2 acresMasponsPaco Diaz
Miramar12100 Miramar ParkwaySprouts20,535KiteRyan JoyceLindsey Panke
Pembroke PinesPines City CenterBento Asian Kitchen + Sushi3,000Terra GroupRod Castan
Singer Island2415 N Ocean DriveDAS Beer Garden5,500Duncan HillsleyShary Thur
South DadeQuail Roost and 112 AveWawa2 acresDavid BrownPaco Diaz
West Miami8211 West FlaglerYouFit24,840KimcoSusie HazziChristy Stross

LA Fitness Signed Lease Miami Florida

Top Retail Leases in South Florida – Q2 2018 (Alphabetically by Submarket)

Commercial real estate in South Florida continued to be a healthy market as exhibited by metrics in the Q2 2018 report.

SubmarketProperty AddressTenantSFLandlordLandlord Agent
Delray Beach3001 S Federdal HighwayLifetime Kickboxing10,656Gator InvestmentsN/A
Doral58th Ave & 107th AvenueAldi’s20,000EHOF Congress Doral RetailDanny Pou
Fort Lauderdale17 S Fort Lauderdale Beach BlvdCrystal Ballroom12,634Thor EquitiesAriel Bernstein/ Rafael Romero
Hialeah3505 NW 20 AveDD’s Discount23,423SterlingRobert Vreeland
Kendall12755 SW 88 STAldi’s21,850MMGDaniel Pou
Kendall10868 SW 104th StPlanet Fitness10,166Bindor Killian LLCJoel Benes
Kendall16205 N Kendall DriveLa Colonia7,839CenturyDaniel Pou
Kendall14083 N Kendall DriveAmerica’s Best4,500KimcoDoug Wolfe
Kendall14651 SW 56 StOcean Bank3,744Grec Properties LLCDanny Pou
Kendall7250 N Kendall DriveErba2,900Duncan HillsleyRafael Romero/ Steven Henenfeld
Kendall7251 N Kendall DriveEmpire Social2,825Duncan HillsleyRafael Romero/ Steven Henenfeld
Miami Beach1045 5th StreetTarget33,503ComrasMichael Comras
Midtown3635 NE 1st AveFitness User (withheld)25,000Mack Real EstateIrma Figueroa
Midtown3401 N Miami AveF45 Fitness5,258DDRAlyona Tsutskova
Midtown3401 N Miami AveIdeal Image3,500DDRAlyona Tsutskova
Pembroke PinesPines City CenterWalk Ons Bistreaux8,283Courtelis CompanyJim Zaydon
Pembroke PinesPines City CenterChuy’s Tex Mex7,505Courtelis CompanyJim Zaydon
Pinecrest9171 S Dixie HighwayCitibank4,085MMGDaniel Pou
Pinecrest7800 SW 104 STBurger-Fi2,400RegencyMarielle De La Hoz
South Dade12500 SW 152 STLA Fitness40,000RAMBrian Richardson
South Dade18403 S Dixie HighwayRoss26,100WoolbrightJeff Kalil
South Dade19101 S Dixie HighwayPlanet Fitness19,700RegencyMarielle De La Hoz
South Dade18403 S Dixie HighwayFive Below8,204WoolbrightJeff Kalil
Westchester8760 Bird RdDD’s Discount19,817The Shops of Bird RdAllan Benes
Westchester8665 Bird RdCoral Gables Hospital16,685Bird 87th Ave VillageAllan Benes


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