Notable South Florida Retail Leases 2018

Dec 28
Notable South Florida Retail Leases 2018

South Florida Notable Retail Leases 2018

While the headlines for Q4 2018 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. Some of the major leases include household names, such as: Dollar General, Marshall’s, Aldi Supermarket, and Planet Fitness.

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

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

Submarket Property Address Tenant SF Landlord Landlord Rep Tenant Rep
Delray Beach 600 N Congress Ave Dollar General 10,000 David Neuman & Ronit Neuman
Delray Beach 5850 W Atlantic Ave ChenMed 15,157 ComNet Realty Harry Zucker
Fort Lauderdale 201 E Las Olas Blvd Greenwise Market 28,000 Stiles & Shorenstein Properties Ken Stiles
Fort Lauderdale 2660 W Broward Blvd Marshall’s 21,000 Gatlin Development Company Frank Gatlin
Fort Lauderdale 17 S Fort Lauderdale Beach Blvd The Gym 8,000 Thor Properties
Fort Lauderdale 6327 North Andrews Ave Sola Salons 8,000 Kimco Realty Corp Susana Hazzi Bill Pace – Rotella Group
Fort Lauderdale 4100 N Federal Hwy Even Keel Fish & Oyster 6,730
Hialeah 500 W 49 St CheapO’s Depot 52,000 Philips International Benjamin Brody
Lauderhill 7408 W Commercial Blvd Oportun 2,275 Kimco Realty Corp Susana Hazzi Kevin Lurie – Creative Realty
Miami 8221-8355 W Flagler St Youfit Health Club 24,840 Publix Super Markets Christy Stross – West Central RE
Miami 775 SW 8 St Planet Fitness 14,700 L.G.O. Corporation Arnaldo Cantero III – BGRS
Miami 8755 S.W. 24th Street Youfit Health Club 30,000 Kimco Realty Corp Susana Hazzi Christy Stross – West Central RE
Miami 9473 W Flagler St Eye Doctors of South FL 1,600 Kimco Realty Corp Susana Hazzi Danny Diaz – CBRE
North Miami Beach 2983-3169 NE 163rd St Scan Design Contemporary Furniture 22,800 RK Centers Raanan Katz
North Palm Beach 100 Gander Way At Home 125,641 Pebb Enterprises Eric Hochman
North Palm Beach 1201 US Highway 1 USA Tile & Marble 8,052 Black Lion Investment Group Robert Rivani
Pembroke Pines 11029-11099 Pines Blvd Aspen Dental 7,260 Retail Property Group Joe Carosella
Pembroke Pines 17007-17061 Pines Blvd Cano Health 7,005 Triple S Associates
Pompano Beach 960 N Federal Hwy Aldi Supermarket 30,081 Ireland Companies Scott Ireland
Sunny Isles Beach 16850 Collins Ave Wings 12,000 RK Centers Raanan Katz
West Miami 6400 SW 8 St Banyan Health 7,500 Michael Gil Daniel Pou – Horizon
West Palm Beach 4346-4370 Okeechobee Blvd Citi Trends 11,028 Alliance Private Capital Group Joe Luban Daniel Solomon
West Palm Beach 4348 Okeechobee Blvd Launch Trampoline Park 32,505 Alliance Private Capital Group Roxanne Register/Dan Solo Paco Diaz-CBRE

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

Luckys Market South Florida Commercial Real Estate

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

Submarket Property Address Tenant SF Landlord Landlord Rep Tenant Rep
Boca Raton 499 N.E. Spanish River Blvd Lucky’s Market 25,500 Cinderella Properties Peter Wolff John Ellis
Boca Raton 5740 N Military Trl Bento Asian Kitchen + Sushi 3,000 Schmier & Feurring Shana Pasas
Cooper City 3350 N University Drive Lucky’s Market 30,000 Diversified Cos. John Ellis
Dania Beach 301 Bryan Rd Bento Asian Kitchen + Sushi 3,000 Kimco Spencer Phelps
Doral 5801 NW 107 Ave Bank of America 2,200 EHOF Doral Retail LLC Daniel Pou John Van Lith
Doral 5801 NW 107 Ave Banfield 2,800 EHOF Doral Retail LLC Daniel Pou Ivo Tsinev
Fort Lauderdale 2400 N Federal Highway Shake Shack 3,600 Edens Jennifer Houston Paco Diaz
Fort Lauderdale 6401 N Andrews Ave Walk on Bistreaux & Bar 8,500 Kimco Susie Hazzi Jon Scheumann
Hialeah 901 E 10th Ave Thrift by the Pound 6,245 Saglo Carlos Guzman
Homestead 907 N Homestead Blvd Wells Fargo 3,300 Kimco Susie Hazzi Russ Bornstein
Homestead 3310 NE 8 Street Racetrac Groundlease MMG Gabriel Navarro
Jupiter 3757 Military Trail Sprouts 30,900 Konover Zach Zeldman
Kendall 8787 SW 124 Ave, Miami Floor & Décor 82,311 Berkowitz Michael Berkowitz Melody Spano
Kendall Downtown Dadeland Empire Social 4,000 Duncan Hillsley Rafael Romero
Kendall 120th Street and 137th Ave Wawa 2 acres Leon Medical Paco Diaz
Kendall 12528 SW 88 Street Lucky’s Market 23,000 Sterling Adrian Jimenez, Eddy Solera John Ellis
Miami 1055 W Flagler St Family Dollar 20,000 Mark Shub Arnaldo Cantero
Miami 6971 SW 24 ST Wawa 2 acres Maspons Paco Diaz
Miramar 12100 Miramar Parkway Sprouts 20,535 Kite Ryan Joyce Lindsey Panke
Pembroke Pines Pines City Center Bento Asian Kitchen + Sushi 3,000 Terra Group Rod Castan
Singer Island 2415 N Ocean Drive DAS Beer Garden 5,500 Duncan Hillsley Shary Thur
South Dade Quail Roost and 112 Ave Wawa 2 acres David Brown Paco Diaz
West Miami 8211 West Flagler YouFit 24,840 Kimco Susie Hazzi Christy Stross

LA Fitness Signed Lease Miami Florida

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

Submarket Property Address Tenant SF Landlord Landlord Agent
Delray Beach 3001 S Federdal Highway Lifetime Kickboxing 10,656 Gator Investments N/A
Doral 58th Ave & 107th Avenue Aldi’s 20,000 EHOF Congress Doral Retail Danny Pou
Fort Lauderdale 17 S Fort Lauderdale Beach Blvd Crystal Ballroom 12,634 Thor Equities Ariel Bernstein/ Rafael Romero
Hialeah 3505 NW 20 Ave DD’s Discount 23,423 Sterling Robert Vreeland
Kendall 12755 SW 88 ST Aldi’s 21,850 MMG Daniel Pou
Kendall 10868 SW 104th St Planet Fitness 10,166 Bindor Killian LLC Joel Benes
Kendall 16205 N Kendall Drive La Colonia 7,839 Century Daniel Pou
Kendall 14083 N Kendall Drive America’s Best 4,500 Kimco Doug Wolfe
Kendall 14651 SW 56 St Ocean Bank 3,744 Grec Properties LLC Danny Pou
Kendall 7250 N Kendall Drive Erba 2,900 Duncan Hillsley Rafael Romero/ Steven Henenfeld
Kendall 7251 N Kendall Drive Empire Social 2,825 Duncan Hillsley Rafael Romero/ Steven Henenfeld
Miami Beach 1045 5th Street Target 33,503 Comras Michael Comras
Midtown 3635 NE 1st Ave Fitness User (withheld) 25,000 Mack Real Estate Irma Figueroa
Midtown 3401 N Miami Ave F45 Fitness 5,258 DDR Alyona Tsutskova
Midtown 3401 N Miami Ave Ideal Image 3,500 DDR Alyona Tsutskova
Pembroke Pines Pines City Center Walk Ons Bistreaux 8,283 Courtelis Company Jim Zaydon
Pembroke Pines Pines City Center Chuy’s Tex Mex 7,505 Courtelis Company Jim Zaydon
Pinecrest 9171 S Dixie Highway Citibank 4,085 MMG Daniel Pou
Pinecrest 7800 SW 104 ST Burger-Fi 2,400 Regency Marielle De La Hoz
South Dade 12500 SW 152 ST LA Fitness 40,000 RAM Brian Richardson
South Dade 18403 S Dixie Highway Ross 26,100 Woolbright Jeff Kalil
South Dade 19101 S Dixie Highway Planet Fitness 19,700 Regency Marielle De La Hoz
South Dade 18403 S Dixie Highway Five Below 8,204 Woolbright Jeff Kalil
Westchester 8760 Bird Rd DD’s Discount 19,817 The Shops of Bird Rd Allan Benes
Westchester 8665 Bird Rd Coral Gables Hospital 16,685 Bird 87th Ave Village Allan Benes


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