prime retail for sale 4136 -...

4136 N MIAMI AVE

MIAMI DESIGN DISTRICT

PRIME RETAIL FOR SALE

Metro 1 Commercial, LLC.120 NE 27 ST, BAY 200 | Miami, FL305.571.9991 | metro1.com

Neither the Owner, nor any of its officers, directors, employees or agents, nor Metro 1 Commercial, makes any representation or warranty, expressed or implied, as to the accuracy or completeness of this confidential memorandum or any of its contents, and no legal liability is assumed or is to be implied by any of the aforementioned with respect thereto.

Prospective investors are advised to verify the information independently. The Owner reserves the right to change the price or any information in this Memorandum, or to withdraw the property from the market at anytime, without notice. This confidential memorandum shall not be deemed an indication of the state of affairs of the property or of the Owner, nor shall it constitute an indication that there has been no change in the business or affairs of the Property or the Owner since the date of preparation of this memorandum. By your receipt of this confidential memorandum, you agree that the information contained herein is of a confidential nature and you will not disclose this memorandum or any part of the contents to any other person, firm or entity without prior authorization from Metro 1 Commercial.

THIS IS A CONFIDENTIAL MEMORANDUM intended solely for your own limited use to determine whether you wish to express any further interest in the property. This confidential memorandum contains brief, selected information pertaining to the business and affairs of the property and has been prepared by Metro 1 Commercial LLC. (“Metro 1”), primarily from information supplied by the Owner. Although this confidential memorandum has been reviewed by representatives of the Owner, it does not propose to be all-inclusive, nor does it contain all the information which a prospective investor may require or desire.

Luxury doesn’t work everywhere. Luxury is selective. No

other mall has the tenant pedigree and luxury roster that

the Design District has amalgamated.

The Design District is a World Class, comprehensive

neighborhood development that differentiates from any

other. It’s the development of a neighborhood. It’s the

reurbanization of the center of Miami and the reversal of

urban sprawl.

The Design District is a retail center that can support 24/7,

vibrant, & sustainable lifestyle and shopping experiences.

The Design District has become highly sought after by

tenants, developers, & investors from around the world.

When you look at the Design District as a development,

it’s an urban, walkable, lifestyle destination featuring

World Class Architecture defining The Third Place.

The First Place is where you live. The Second Place is

where you work. The Third Place is where you spend the

rest of your time.

The Design District will be a nexus, a hub, a Third Place

for everything encompassing art, design, shopping,

entertainment, and celebration. Different from Super

Regional and Goliath Malls that scatter suburbia, The

Design District was not designed for every customer, but

for a very select customer.

Site plan

41 STREET

REDSKY PORTFOLIO

LIVING ROOM

PORTFOLIO

ICADD 41

MUSEUMGARAGE

4141 NMA

HOTEL

stardust

SUBJECTPROPERTY 42 STREET

42 STREET

N M

IAM

I A

VE

OVERVIEWMetro 1 Commercial is proud to present the opportunity to acquire a new construction building with 22,365 SF of building on 3 stories sitting on 9,400 SF of land.

The property is located in one of the hottest retail neighborhoods in the city, with many of Miami’s top restaurants and over 200 of the high street retailers of the highest pedigree such as Louis Vuitton, Dior, Hermes, Cartier, Tom Ford, & Gucci.

The property on North Miami Avenue, adjacent to the Redsky Portfolio, the new Institute of Contemporary Art and the new Museum Garage with easy access to I-195.

Address: 4136 N Miami AveBuilding Size: 16,865 SF Parking 6,421 SF First Floor 1,714 SF + 1,727 Arcade | 3,317 RSF Second Floor 4,365 SF + 15% CAF Third Floor 4,365 SF + 15% CAF Rooftop 4,081 SFRentable Size: 14,335 Leasable Square FeetLot Size: 9,400 SFZoning: T4-LAsking Price: $14,500,000Parking: 24 Underground SpacesStories: 3 Stories + Rooftop

Executive Summary

EXECUTIVE SUMMARY

ADDRESS:

4136 N Miami Ave | Miami | FL

PROCURING BROKER SHALL ONLY BE ENTITLED TO A COMMISSION, CALCULATED IN ACCORDANCE WITH THE RATES APPROVED BY OUR PRINCIPAL ONLY IF SUCH PROCURING BROKER EXECUTES A BROKERAGE AGREEMENT ACCEPTABLE TO US AND OUR PRINCIPAL AND THE CONDITIONS AS SET FORTH IN THE BROKERAGE AGREEMENT ARE FULLY AND UNCONDITIONALLY SATISFIED. ALTHOUGH ALL INFORMATION FURNISHED REGARDING PROPERTY FOR SALE, RENTAL, OR FINANCING IS FROM SOURCES DEEMED RELIABLE, SUCH INFORMATION HAS NOT BEEN VERIFIED AND NO EXPRESS REPRESENTATION IS MADE NOR IS ANY TO BE IMPLIED AS TO THE ACCURACY THEREOF AND IT IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE AND TO ANY SPECIAL CONDITIONS IMPOSED BY OUR PRINCIPAL.

Tony ArellanoExecutive Vice [email protected]

Andres [email protected]

N MIAMI AVE

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ADDITIONAL INFORMATION:

4136N MIAMI AVE

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Tenant Space 1011,692 SF

Underground Parking Ramp

ELEVATIONS

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Ground Floor + Retail Underground Parking

FLOOR PLANS





Retail3,317 RSF

7,135 RSF

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FLOOR PLANS

Second Floor Third Floor


Corridor

Men

Women


Corridor

Men

Women


Corridor

Men

Women


Corridor

Men

Women

5,059 RSFCAF: 15%

5,509 RSFCAF: 15%

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RECENT COMPARABLE SALES GO TO INTERACTIVE MAP

1

1

2

3

5 6

7

2

4141 N Miami Avenue

3925 N Miami Avenue

111 NE 40 Street

1 NE 40 Street

35 NE 40 Street

3801 N Miami Avenue

3800 NE Miami Ct

$10,500,000 - 2Q16

$15,750,000 - 2Q14

$21,500,000 - 1Q16

$29,950,000 - 1Q15

$28,000,000 - 1Q15

$4,000,000 - 2Q14

$26,000,000 - 1Q15

$700 Bldg - 15,000 SF

$1,704 PSF Bldg - 6,222 SF

$2,778 PSF Bldg - 7,739 SF

$1,710 PSF Bldg - 17,104 SF

$1,610 PSF Bldg - 17,391 SF

$950 PSF Bldg - 4,211 SF

$1,169 PSF Bldg - 22,248 SF

$1,082 PSF Land - 9,700 SF

$770 PSF Land - 13,773 SF

$4,229 PSF Land - 5,000 SF

$1,963 PSF Land - 14,901 SF

$2,240 PSF Land - 12,501 SF

$496 PSF Land - 8,062 SF

$1,888 PSF Land - 13,769 SF

1.5464 FAR

0.4517 FAR

1.5478 FAR

1.1478 FAR

1.3917 FAR

0.5223 FAR

1.6158 FAR

3

4

5

6

74

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https://www.google.com/maps/d/edit?mid=1yET5ktYJ_T-ClnsuYmGOlifjXCo&ll=25.814173803196248%2C-80.19376270368957&z=17

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DESIGN DISTRICT MARKET OVERVIEW

DOWNLOAD OUR DOWNLOADTHE MAIN STREETSREPORT

Year Sales Total SF Avg Bldg SF Avg Year Built Total Sales Avg $/SF Year # Of Spaces Total SF Leasing Activity SF Total Deliveries SF Under Construction SF Range Vacancy Rate Avg $/SF Year Sales Total SF Avg Bldg SF Avg Year Built Total SalesAvg $/SF2011 17 136,716 8,042 1952 $64,189,500 661$ 2011 7 956,154 35,314 25,992 0 $22-$100 6.00% 27.80$ 2011 4 108,822 36,274 1940 $29,001,766 $522012 7 68,201 9,743 1962 $20,000,000 609$ 2012 14 956,154 31,419 0 4,954 $42-$60 12.40% 45.70$ 2012 5 101,139 29,227 1933 $17,000,000 $2132013 7 70,575 10,082 1939 $32,000,000 1,100$ 2013 10 880,047 22,229 11,376 26,035 $48-$103 13.50% 78.24$ 2013 9 113,722 16,246 1949 $67,062,600 $3582014 63 1,092,235 10,000 1948 $417,407,900 1,367$ 2014 20 893,211 74,948 29,556 41,411 $40-$75 12.90% 96.02$ 2014 7 212,813 30,401 1960 $129,834,600 $7762015 13 122,478 11,134 1961 $248,200,000 2,230$ 2015 22 956,122 85,599 64,431 500,000 $65-$300 12.30% 91.57$ 2015 3 14,837 7,418 1953 $19,080,000 $7582016 11 85,595 28,531 1954 $206,825,000 2,416$ 2016 1 956,122 1,847 0 600,000 $65-$400 11.90% 120.00$ 2016 0 0 0 0 $0 $0

Design DistrictOffice Rental Market

Year Sales Total SF Avg Bldg SF Avg Year Built Total Sales Avg $/SF Year Size Range Range Vacancy Rate Avg $/SF2011 2 6,782 3,391 1943 $2,393,000 $224 2011 1,500-2,000 $16-$25 7.80% $28.372012 4 44,886 11,221 1961 $16,650,000 $974 2012 1,500-2,000 $15-$33 13.00% $28.242013 2 60,500 30,250 1983 $8,800,000 $1,000 2013 1,500-2,000 $20-$76 4.80% $33.112014 4 1,037,407 259,352 1937 $346,100,000 $1,000 2014 1,500-2,000 $20-$40 2.50% $33.612016 4 37,955 9,488 1954 $58,583,253 $1,706 2015 1,500-2,000 $10-$65 5.00% $37.11

2016 - 6.20% $36.83

Design District

Retail Rental Market

Central Business District

Industrial Sales Market

Design District

Retail Sales Market

Design District

Office Sales Market

$-

$500

$1,000

$1,500

$2,000

$2,500

$3,000

2011 2012 2013 2014 2015 2016

Design District Avg. Retail Sales Price PSF

$-

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

2011 2012 2013 2014 2016

Design District Avg. Office Sales Price PSF

$-

$20.00

$40.00

$60.00

$80.00

$100.00

$120.00

$140.00

2011 2012 2013 2014 2015 2016

Design District Avg. Retail Lease Price PSF

$25.00

$27.00

$29.00

$31.00

$33.00

$35.00

$37.00

$39.00

2011 2012 2013 2014 2015 2016

Design District Avg. Office Lease Price PSF

$-

$100

$200

$300

$400

$500

$600

$700

$800

$900

2011 2012 2013 2014 2015

CBD Avg. Industrial Sales Price PSF




2016 - 6.20% $36.83

Design District




Design District

Retail Sales Market

Design District

Office Sales Market

$-

$500

$1,000

$1,500

$2,000

$2,500

$3,000

2011 2012 2013 2014 2015 2016


$-

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

2011 2012 2013 2014 2016


$-

$20.00

$40.00

$60.00

$80.00

$100.00

$120.00

$140.00

2011 2012 2013 2014 2015 2016


$25.00

$27.00

$29.00

$31.00

$33.00

$35.00

$37.00

$39.00

2011 2012 2013 2014 2015 2016


$-

$100

$200

$300

$400

$500

$600

$700

$800

$900

2011 2012 2013 2014 2015





2016 - 6.20% $36.83

Design District




Design District

Retail Sales Market

Design District

Office Sales Market

$-

$500

$1,000

$1,500

$2,000

$2,500

$3,000

2011 2012 2013 2014 2015 2016


$-

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

2011 2012 2013 2014 2016


$-

$20.00

$40.00

$60.00

$80.00

$100.00

$120.00

$140.00

2011 2012 2013 2014 2015 2016


$25.00

$27.00

$29.00

$31.00

$33.00

$35.00

$37.00

$39.00

2011 2012 2013 2014 2015 2016


$-

$100

$200

$300

$400

$500

$600

$700

$800

$900

2011 2012 2013 2014 2015

CBD Avg. Industrial Sales Price PSFYear Sales Total SF Avg Bldg SF Avg Year Built Total Sales Avg $/SF Year # Of Spaces Total SF Leasing Activity SF Total Deliveries SF Under Construction SF Range Vacancy Rate Avg $/SF Year Sales Total SF Avg Bldg SF Avg Year Built Total SalesAvg $/SF2011 17 136,716 8,042 1952 $64,189,500 661$ 2011 7 956,154 35,314 25,992 0 $22-$100 6.00% 27.80$ 2011 4 108,822 36,274 1940 $29,001,766 $522012 7 68,201 9,743 1962 $20,000,000 609$ 2012 14 956,154 31,419 0 4,954 $42-$60 12.40% 45.70$ 2012 5 101,139 29,227 1933 $17,000,000 $2132013 7 70,575 10,082 1939 $32,000,000 1,100$ 2013 10 880,047 22,229 11,376 26,035 $48-$103 13.50% 78.24$ 2013 9 113,722 16,246 1949 $67,062,600 $3582014 63 1,092,235 10,000 1948 $417,407,900 1,367$ 2014 20 893,211 74,948 29,556 41,411 $40-$75 12.90% 96.02$ 2014 7 212,813 30,401 1960 $129,834,600 $7762015 13 122,478 11,134 1961 $248,200,000 2,230$ 2015 22 956,122 85,599 64,431 500,000 $65-$300 12.30% 91.57$ 2015 3 14,837 7,418 1953 $19,080,000 $7582016 11 85,595 28,531 1954 $206,825,000 2,416$ 2016 1 956,122 1,847 0 600,000 $65-$400 11.90% 120.00$ 2016 0 0 0 0 $0 $0



2016 - 6.20% $36.83

Design District




Design District

Retail Sales Market

Design District

Office Sales Market

$-

$500

$1,000

$1,500

$2,000

$2,500

$3,000

2011 2012 2013 2014 2015 2016


$-

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

2011 2012 2013 2014 2016


$-

$20.00

$40.00

$60.00

$80.00

$100.00

$120.00

$140.00

2011 2012 2013 2014 2015 2016


$25.00

$27.00

$29.00

$31.00

$33.00

$35.00

$37.00

$39.00

2011 2012 2013 2014 2015 2016


$-

$100

$200

$300

$400

$500

$600

$700

$800

$900

2011 2012 2013 2014 2015


RETAIL RENTAL MARKETS

OFFICE RENTAL MARKETS

RETAIL SALES PRICE PSF

OFFICE SALES PRICE PSF

RETAIL SALES MARKET

OFFICE SALES MARKET

AVERAGE RETAIL LEASE PRICE PSF

AVERAGE OFFICE LEASE PRICE PSF




2016 - 6.20% $36.83

Design District




Design District

Retail Sales Market

Design District

Office Sales Market

$-

$500

$1,000

$1,500

$2,000

$2,500

$3,000

2011 2012 2013 2014 2015 2016


$-

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

2011 2012 2013 2014 2016


$-

$20.00

$40.00

$60.00

$80.00

$100.00

$120.00

$140.00

2011 2012 2013 2014 2015 2016


$25.00

$27.00

$29.00

$31.00

$33.00

$35.00

$37.00

$39.00

2011 2012 2013 2014 2015 2016


$-

$100

$200

$300

$400

$500

$600

$700

$800

$900

2011 2012 2013 2014 2015





2016 - 6.20% $36.83

Design District




Design District

Retail Sales Market

Design District

Office Sales Market

$-

$500

$1,000

$1,500

$2,000

$2,500

$3,000

2011 2012 2013 2014 2015 2016


$-

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

2011 2012 2013 2014 2016


$-

$20.00

$40.00

$60.00

$80.00

$100.00

$120.00

$140.00

2011 2012 2013 2014 2015 2016


$25.00

$27.00

$29.00

$31.00

$33.00

$35.00

$37.00

$39.00

2011 2012 2013 2014 2015 2016


$-

$100

$200

$300

$400

$500

$600

$700

$800

$900

2011 2012 2013 2014 2015





2016 - 6.20% $36.83

Design District




Design District

Retail Sales Market

Design District

Office Sales Market

$-

$500

$1,000

$1,500

$2,000

$2,500

$3,000

2011 2012 2013 2014 2015 2016


$-

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

2011 2012 2013 2014 2016


$-

$20.00

$40.00

$60.00

$80.00

$100.00

$120.00

$140.00

2011 2012 2013 2014 2015 2016


$25.00

$27.00

$29.00

$31.00

$33.00

$35.00

$37.00

$39.00

2011 2012 2013 2014 2015 2016


$-

$100

$200

$300

$400

$500

$600

$700

$800

$900

2011 2012 2013 2014 2015





2016 - 6.20% $36.83

Design District




Design District

Retail Sales Market

Design District

Office Sales Market

$-

$500

$1,000

$1,500

$2,000

$2,500

$3,000

2011 2012 2013 2014 2015 2016


$-

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

2011 2012 2013 2014 2016


$-

$20.00

$40.00

$60.00

$80.00

$100.00

$120.00

$140.00

2011 2012 2013 2014 2015 2016


$25.00

$27.00

$29.00

$31.00

$33.00

$35.00

$37.00

$39.00

2011 2012 2013 2014 2015 2016


$-

$100

$200

$300

$400

$500

$600

$700

$800

$900

2011 2012 2013 2014 2015


Currently in its third phase is currently under construction and is expected to complete by late 2017. Included in this phase is paradise plaza which will be an extension of the already existing Paseo Ponti which is the pedestrian street that transverses the district. By then the district is expected to house more than 120 luxury retailers, a 119-key boutique hotel, 15 to 20 restaurants and cafes, and some luxury condominiums. This future expan-sion could result in Dacra owning 1.2 million SF with the potential of adding an additional 2 million SF of space.

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https://www.dropbox.com/s/jp79lsbzrlotd2k/Main%20Streets%20Across%20the%20World%202015-16.pdf?dl=0

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SUBJECTPROPERTY

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DACRA

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EN AVANCE

MAISON MARGIELA

PRADA

EMILIO PUCCI CHRISTIAN LOUBOUTIN MEN’S

MARNI

LOUIS VUITTON

I ON THE DISTRICT CHRISTIAN LOUBOUTIN

CELINECARTIER

DIOR HOMME

ROLEX LONGCHAMP

BERLUTIHERMES

THE BAZAAR BILLIONAIRE CHERNAYA BRIDAL

FASHION

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RICK OWENS

TOURBILLON

CHROME HEARTS

JAEGER LE COULTRE A. LANGE & SOHNE

RIMOWA V73LANVIN

VACHERON

PIAGET GIORGIO ARMANI

IWCBVLGARI

ECJ LUXE FENDI

ULYSSE NARDIN

MRKT PM

ROBERTO COIN DIORMIU MIU

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MARC JACOBS

VALENTINO

VERSACE

VHERNIER PARMIGIANI FLEURIER

HUBLOT

MAX MARA

BURBERRY OMEGA

TIFFANY & COERMENEGILDO ZEGNA

ZADIG & VOLTAIRE

JASON OF BEVERLY HILLS YVEL

TAG HEUERTOM FORD

LOEWE GIVENCHY PANERAI HARRY WINSTON

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ALEXANDER WANG

COMING SOON COMING SOON COMING SOON COMING SOON

ALICE & OLIVIA COS GUCCI

ISABEL MARANT

SAINT LAURENT

COMING SOON

COMING SOON

COMING SOON

COMING SOON

COMING SOON

COMING SOON

COMING SOON

COMING SOON

LA BOUTIQUE

SEVAN BICAKCI

LORO PIANA MM6

TOD’SST LOUIS CRYSTAL

TORY BURCH

COMING SOON

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MICHAEL’S GENUINE

CRUMB ON PARCHMENT

CYPRESS TAVERN

ELLA LADUREE

BUENA VISTA DELI

HARRY’S PIZZERIA

BUENA VISTA BISTRO LEMONI CAFE

MANDOLINMC KITCHEN

MERCATO

DUSK

ABC KITCHEN

ABACOB SWEET

COMING SOON

ESTEFAN KITCHEN

COMING SOON COMING SOON COMING SOON

L’ATELIER DE JOEL ROBUCHON SMILE TO GO

F&B

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MAMAN FINE ART

FLY’S EYE DOME

2X4: VORTEX, 2014 2X4: JUNGLE, 2014

DE LA CRUZ COLLECTION

MARKOWICZ FINE ART

HAITIAN HERITAGE MUSEUM SWAMPSPACE

MARC NEWSON: DASH FENCEGALLERIA CA’D’ORO

NETSCAPE, 2010

INSTITUTE OF CONTEMPORARY ART MIAMI LE CORBUSIER

ZAHA HADID: ELASTIKASOU FUJIMOTO

LOCUST PROJECTS BOSSA GALLERY ROBERT CURRAN GALLERYMORA STUDIO

ART

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JOHN BALDESARI FUN PART I

FINE ART AUCTIONS MIAMI

JOHN BALDESARI FUN PART II AFTER LIGHT OPERA GALLERY

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LINEA STUDIO

BROWN JORDAN

VERSACE HOME BANG OLUFSEN

MODERN HOME

MAISON MONTAIGNE

SIMONAS LARTE KITCHEN LIVING

ITALICAMBLANCO STONE GALLERY

NATUZZI ITALIA

LUXURY LIVING SHOWROOM MITCHELL GOLD BOB WILLIAMS

LLADROLEMA

BULTHAUP NIBA HOME WATERWORKSSUSANE R LIFESTYLE BOUTIQUE

DESIGN

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ONE OF A KIND

ARCLINEA

JALAN JALAN

MODUS MIAMI CHRISTIAN LIAIGRE

ANN SACKS

HENGE LISTONE GIORDANO

GALILEE LIGHTING MAXALTO

FLORCRESCENT GARDEN

MINNOTTI MIAMI

DESIGN WITHIN REACH ARMANI / CASA

DESIGNERS TILEPIANETA LEGNO

JANUT ET CIE LUXE CABLE LIGHT ADRIANA HOYOSHAUSSCAPE

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SPAZIO DI CASA

BISAZZA

LUXURY LIVING FLAGSHIP

LIGNE ROSET THE RUG COMPANY

MICHAEL DAWKINS HOME

THREADCOUNT

NIBA COLLECTIONS JONATHAN ADLER

POLIFORM USAHOLLY HUNT

LUMINAIRE LAB

POLTRONA FRAU GROUP KARTELL

ORNAREINTERNUM AND DESIGN

JANUT ET CIE LUXE CABLE LIGHT ADRIANA HOYOSHAUSSCAPE

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EMILIO ROBBA

OGGETTI AMIR RUG

CERAMIC MATRIX DECORATOR’S PLUMBING IVETTE ARANGO DESIGN

ORLEAN

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EMENA SPA

CAROUSEL STUDIOS

FEMME COIFFURE HAIR SALON DBC FITNESS

CHARIFF REALTY GROUP

BUSHRENZ

OPPENHEIM ARCHITECTS MIAMI MAGAZINE

DASHBRIDGE HOUSE EVENTS

BUENA VISTA POST OFFICE

DEJA VU AUDIO SOUTH SIINC

MIAMI CENTER FOR PLASTIC S.MIAMI CENTER FOR PLASTIC S.

THE PERFECT SOUND & SHADE SHULMAN + ASSOCIATES SEW ON SET TAILOR RS3 DESIGNS

SERVICES

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SERVICES

RE/MAX REALTY 1 AESOP AHANA YOGA STUDIOQUINTESSENTIALLY

COMING SOON COMING SOON

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PHOTO GALLERY

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Yesterday the Miami Design District released an announcement featuring a whole new slew of upcoming tenants coming to the area in the next year. Amongst them were two new restaurant offerings: Estefan Kitchen and The

Smile.

An outpost of NYC’s The Smile will also set up shop in the ever growing neighborhood. For the South Florida edition of The Smile, the restaurant plans to serve up a menu of coffee, baked goods, snacks and sandwiches in “an airy,

laid-back workspace environment.”.

A New York investor who spent $12.5 million on a former church site in Miami’s Design District in 2014 is debuting its plans for an office and

retail project on the property.

While the site at 4201 Northeast Second Avenue can support a development of up to 325,000 square feet, the first phase of the project will comprise 75,000 square feet of retail and more than 100,000 square feet of

office space

Asking rents for the retail space are approximately $175 per square foot on the ground floor and $90 per square foot for the

upper level space.

Miami’s Design District is set to add Gucci and a high-end Cuban restaurant by Emilio and Gloria Estefan, among other tenants, to its

open-air, luxury-shopping hub.

Gucci is set to open a flagship, 7,000-square-foot store in 2017.

Other new locations include Alexander Wang, Eres, Warby Parker, Cos, The Smile, Ahana

Yoga Studio and Estefan Kitchen.

READ ARTICLEREAD ARTICLEREAD ARTICLE

Estefan Kitchen and NYC’s The Smile

Announce Design District Locations

MORE DISTRICT NEWS

Helm Equities launches retail, office

leasing effort for Design District mega

development

What’s next for Miami’s Design District? Gucci,

Alexander Wang, Warby Parker, & more.

JUST ANNOUNCED

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N MIAMI AVE

http://miami.eater.com/2016/6/22/12000260/estefan-kitchen-the-smile-design-district

http://therealdeal.com/miami/2016/05/23/helm-equities-launches-retail-office-leasing-for-design-district-mega-development/

http://www.miamiherald.com/news/business/real-estate-news/article85039747.html

http://therealdeal.com/miami/2016/05/23/helm-equities-launches-retail-office-leasing-for-design-district-mega-development/

http://therealdeal.com/miami/tag/design-district/



http://miami.eater.com/2016/6/22/12000260/estefan-kitchen-the-smile-design-district

http://www.thenextmiami.com/?s=design+district

http://miami.curbed.com/search?q=design+district


2008-2010 – DACRA acquires the second round of properties in the district focusing on creating a unified portfolio of properties.

May 2011 – Dacra files for a Special Area Plan for the Design District., requiring the applicants to have 9 acres or more of contiguous land and allows the applicant to modify the zoning in place. Dacra took advantage of this opportunity so that they could change the use and density for the portfolio of properties. The development proposed in the Sap was estimated to cost approximately $312 million exclusive of land costs and developer fees.

Mid 1990’S - 2010 – DACRA/ Craig Robbins

begins acquiring large buildings in the district at

$20 PSF and starts curating design, and furniture art tenants. He holds these

assets and focuses in promoting the Design

District as a destination. --- Buildings at that time without

inflation were being bought for $20-30 PSF.

December 2010 – Dacra partners with L Real Estate, The real estate and capital arm of LVMH, the French Multinational luxury goods conglomerate, forming Design District Partners. The partnership was structured in the following manner: LVMH acquired 50% of Dacra’s real estate portfolio. The portfolio was comprised of 18 existing buildings and two development sites totaling 457,533 SF of active Retail space and development rights several million of additional SF.

October 2014 – General Growth Properties and Ashkenazy Acquisition Corp. acquired a 20 percent stake in the Miami Design District. The companies paid $280 million thus valuing the project at $1.4 billion.

DESIGN DISTRICT DEVELOPMENT TIMELINE

MARKET OVERVIEWDESIGN DISTRICT

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N MIAMI AVE


MARKET OVERVIEWDESIGN DISTRICT

DEVELOPMENT PHASES SUMMARYPhase I – In order to accommodate the brands migration out of Bal Harbour Shops, portions of NE 40th ST are renovated and 10 stores open up new stores including: Luis Vuitton, Hermes, Dior, Cartier, Rolex, Prada, Celine, Christian Louboutin.

Phase II – This phase consists of the renovation of 75,000 SF of existing space and the addition of approximately 240,000 SF of new retail space. On July of 2013 Dacra obtained a $302M loan, which in part is destined for construction of part of the new phases.

Phase III - The third phase is currently being planned and is expected to come online by 2016. By then the district is expected to house more than 120 luxury retailers, a boutique hotel, 15 to 20 restaurants, and multiple luxury condominiums. This future expansion could result in Dacra owning 1.2 million SF with the potential of adding an additional 2 million SF of space.

OTHER PROJECTS BEING DEVELOPED IN THE MIAMI DESIGN DISTRICT:As the Dacra project constantly evolves other players have entered the marketplace and have been acquiring properties within the district including Thor Equities and Richard Lefrak, which have acquired approximately $75 million worth of properties on the West Side of the District. The new Design District has tremendously increased value and investment in the surrounding neighborhoods of Wynwood, Upper East Side, and Little River.

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N MIAMI AVE


4136 N MIAMI AVE

MIAMI DESIGN DISTRICT

PRIME RETAIL FOR SALE

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N MIAMI AVE

prime retail for sale 4136 -...

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