Notable Retail Leases Signed in South Florida Q4 2018

Feb 05
Notable Retail Leases Signed in South Florida Q4 2018

We’ve compiled a comprehensive list of the top retail leases signed by square footage in South Florida during Q4 2018. Some big brand tenants that inked leases include: Dollar General, Marshall’s, Aldi Supermarket, and Planet Fitness.

While the headlines are focused on the challenges and closures of major chains such as Toys “R” Us, Sears, Macy’s, and J.C. Penny, the retail leasing market in South Florida is stable as evidenced by some major leases signed in the 4th quarter and new retailers entering the market.

The retail landscape in South Florida remains strong and we have a positive outlook for 2019. Absorption has remained positive throughout Miami-Dade and Broward, as we have seen high demand from many new to market retailers and relatively low supply due to a lack of new construction deliveries. We expect rents to taper off slightly as the roughly 5M SF of new retail under construction is delivered, however are seeing strong activity in the pre-leasing at many of the new construction projects.”

Marcos Puente, Director of Acquisitions, MMG Equity Partners

Dollar General Top South Florida Leases Q4 2018

Top Retail Leases in South Florida – Q4 2018 (Alphabetically by Submarket)

SubmarketProperty AddressTenantSFLandlordLandlord RepTenant Rep
Delray Beach600 N Congress AveDollar General10,000David Neuman & Ronit Neuman
Delray Beach5850 W Atlantic AveChenMed15,157ComNet RealtyHarry Zucker
Fort Lauderdale201 E Las Olas BlvdGreenwise Market28,000Stiles & Shorenstein PropertiesKen Stiles
Fort Lauderdale2660 W Broward BlvdMarshall’s21,000Gatlin Development CompanyFrank Gatlin
Fort Lauderdale17 S Fort Lauderdale Beach BlvdThe Gym8,000Thor Properties
Fort Lauderdale6327 North Andrews AveSola Salons8,000Kimco Realty CorpSusana HazziBill Pace – Rotella Group
Fort Lauderdale4100 N Federal HwyEven Keel Fish & Oyster6,730
Hialeah500 W 49 StCheapO’s Depot52,000Philips InternationalBenjamin Brody
Lauderhill7408 W Commercial BlvdOportun2,275Kimco Realty CorpSusana HazziKevin Lurie – Creative Realty
Miami8221-8355 W Flagler StYoufit Health Club24,840Publix Super MarketsChristy Stross – West Central RE
Miami775 SW 8 StPlanet Fitness14,700L.G.O. CorporationArnaldo Cantero III – BGRS
Miami8755 S.W. 24th StreetYoufit Health Club30,000Kimco Realty CorpSusana HazziChristy Stross – West Central RE
Miami9473 W Flagler StEye Doctors of South FL1,600Kimco Realty CorpSusana HazziDanny Diaz – CBRE
North Miami Beach2983-3169 NE 163rd StScan Design Contemporary Furniture22,800RK CentersRaanan Katz
North Palm Beach100 Gander WayAt Home125,641Pebb EnterprisesEric Hochman
North Palm Beach1201 US Highway 1USA Tile & Marble8,052Black Lion Investment GroupRobert Rivani
Pembroke Pines11029-11099 Pines BlvdAspen Dental7,260Retail Property GroupJoe Carosella
Pembroke Pines17007-17061 Pines BlvdCano Health7,005Triple S Associates
Pompano Beach960 N Federal HwyAldi Supermarket30,081Ireland CompaniesScott Ireland
Sunny Isles Beach16850 Collins AveWings12,000RK CentersRaanan Katz
West Miami6400 SW 8 StBanyan Health7,500Michael GilDaniel Pou – Horizon
West Palm Beach4346-4370 Okeechobee BlvdCiti Trends11,028Alliance Private Capital GroupJoe LubanDaniel Solomon
West Palm Beach4348 Okeechobee BlvdLaunch Trampoline Park32,505Alliance Private Capital GroupRoxanne Register/Dan SoloPaco Diaz-CBRE

 

Luckys Market South Florida Commercial Real Estate

Commercial real estate in South Florida continued to be a healthy market as exhibited by metrics in the Q3 2018 report.

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

South Florida Q3 2018 As Seen By CRE Professionals

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

LA Fitness Signed Lease Miami Florida

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

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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