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
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 |
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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