DOCSLIB.ORG

Downtown Miami Fully Approved Hotel Development Site

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Downtown Miami Fully Approved Hotel Development Site Downtown Miami Fully approved hotel development site NE 1st Street Confidential offering memorandum Downtown Miami | Hotel Development Site | 139 NE 1st Street, Miami, Florida Table of contents 01. Executive summary 3 02. Property overview 8 03. Market overview 25 04. Area overview 29 2 01. Executive summary Introduction Investment highlights Downtown Miami | Hotel Development Site 01. Introduction 139 NE 1st Street Miami, FL 33132 Avison Young is pleased to exclusively offer for sale the historic Dade Commonwealth Building (“the Property”), an existing office building and fully site plan approved hotel development site located in the heart of Downtown Miami, Florida. Permits have been approved to demolish the existing structure (with the exception of the façade for the first 3 stories), and permits for the construction of a17-story, 163-key hotel are pending approval, with approval expected in July of 2021. A hotel on the site would benefit from the excellent location of the Property, within short walking distance to some of Downtown Miami’s major office buildings, dining and nightlife spots and cultural attractions, offering the ability to cater to both business- and leisure-oriented travelers. The Property is located just 400 feet from the First Street MetroMover Station, which offers rail access throughout Downtown Miami and Brickell, and a short walk from the Government Center MetroRail Station, which offers rail access throughout Miami-Dade County. It is also located near some of Downtown Miami’s top-performing luxury hotels, including the Hyatt Regency, the Kimpton EPIC, the InterContinental Miami, the JW Marriott Marquis, and the Hotel Beaux Arts. Originally built in 1925, the Dade-Commonwealth Building’s Neo-Classical architecture made it a pioneering development in Downtown Miami, and one of the area’s most iconic buildings. Because of its rich history as a landmark building within Downtown Miami, the Property has been awarded historic status, qualifying for a Federal Historic Rehabilitation Tax Credit. With in-place full-demolition permits and pending construction permits in place, an excellent location in the heart of Downtown Miami offering walkability to Miami’s major business, cultural and entertainment destinations, proximity to three different rail transit systems, and favorable tax credits, the Property is an excellent hotel development opportunity. A Master Construction Permit is in process and expected to be issued by July 2021. NE 1st Street Avison Young | Confidential offering memorandum 4 Downtown Miami | Hotel Development Site 01. Investment highlights 139 NE 1st Street Miami, FL 33132 Existing approvals • The Property has rare in-place approvals from the Historic Preservation Board and the City of Miami for the demolition, leaving the original front three-story façade, and reconstruction of Miami’s historic Dade-Commonwealth building into a brand new 17-story upscale hotel. 7,505 square feet • Fully approved plans, with permits pending request have been filed, and are pending, for the construction of a17-story, 163-key hotel, with approval anticipated by July of 2021. In conjunction with the demolition approvals, these will accelerate a project significantly, allowing a developer to break ground months faster than could be achieved at other sites. Core Downtown Miami location • Property is located in the heart of Downtown Miami, just steps from some of the city’s landmarks including American Airlines Fully approved for Arena, Bayfront Park and Amphitheater, Bayside Marketplace, the Frost Science Museum, and Brickell City Centre. 17 stories & 163 key hotel • The overwhelming majority of Miami’s Central Business District offices, located in Downtown and Brickell, can be reached in a ten-minute walk from the Property. • Stations serving three different modes of rail transportation can be reached within a fifteen-minute walk. The First Street Metromover station offers free access to rail serving Downtown Miami and Brickell. The Government Center MetroRail Station offers access throughout Miami-Dade County, including to Coconut Grove, the University of Miami, and the Miami International Demolition permit for Airport. And the MiamiCentral Brightline Station offers express rail access to Fort Lauderdale, Palm Beach, and soon to Orlando. existing building Tax credits and Historic Designation • Historical designation under the Downtown National Register Historical District means the Property is entitled to the Ad Valorem Tax Exemption for Historic Properties. • Further, the Property is qualified for theFederal Historic Rehabilitation Tax Credit, which offers a tax credit of 20% for qualified rehabilitation of historic buildings. Qualified expenses include all direct and indirect costs of construction in renovation of the T6-80-O zoning building. TDR’s and TDD’s Favorable Zoning • The Property is aggressively zoned as T6-80-O, Miami 21’s most intense zoning designation. The zoning permits construction of up to 80 stories at a Floor Lot Ratio (FLR) of 24 by right, and offer unlimited height and FLR via public benefit bonuses. • The Miami 21 zoning code permits historically designated properties the sale of excess buildable square footage and density via a Core Downtown Transfer of Development Rights (TDR’s) and Density (TDD’s), which will assist an investor in reducing their cost basis on the project. Miami location Avison Young | Confidential offering memorandum 5 Downtown Miami | Hotel Development Site 01. Historic Designation 139 NE 1st Street Miami, FL 33132 History & Restoration The Dade-Commonwealth Building (the “Property”) built in 1925 was originally a seventeen-story steel frame skyscraper constructed in the Commercial Style of architecture embellished with Neo-Classical features and was a pioneer as one of the first skyscrapers to be constructed in downtown Miami. The building opened its doors in March of 1926, following a year of expansion and mass migration of businesses to Miami. Among the new businesses attracted to the region was the Meyer-Kiser Bank of Indiana that financed as well as become a tenant in the building, ultimately coining the building the Meyer-Kiser Bank Building. As time went on, the Meyer-Kiser Corporation found quarters elsewhere and several other companies become prime tenants, one of which the Dade Commonwealth Title and Abstract Co. in 1936. Although the company has been long gone, the historic building still carries the Corporation’s name. The Dade Commonwealth Building was damaged during the 1926 hurricane and was reduced to 7-stories due to the damage. Approved plans call for the reconstruction of the original 17-story height, as well as restoration of the building’s storefront level front façade and original columns, pilasters, and entablature. Tax Exemptions The subject Property is located within the Downtown National Register Historic District and has been approved to benefit from the Ad Valorem Tax Exemption for Historic Properties. The Federal Historic Rehabilitation Tax Credit (“HTC”) program is intended to incentive the preservation of the nation’s historically significant buildings, structures, and landmarks. The HTC program provides a tax credit of twenty percent (20%) for qualified rehabilitation of eligible structures or buildings of historic significance of structures or buildings built prior to 1936. Qualified rehabilitation expenses include all direct and indirect costs of construction in renovation of the building and architectural, engineering, surveying, legal, insurance, development fees, and related costs may be capitalized in relation to qualified rehabilitation expenses. Many HTC projects partner with tax credit equity investors in order to monetarily realize the benefit of the HTCs without directly utilizing the tax credits against individual taxable income. Typically a HTC transaction must have a chosen twenty-four month period for measuring qualified rehabilitation expenses, with the exception for phased construction projects allowing up to a sixty month period. Additionally, HTC’s are subject to a five-year compliance period and prohibits the Property being sold or transferred during the first five years following the Property in service. Avison Young | Confidential offering memorandum 6 Downtown Miami | Hotel Development Site 02. Zoning summary 139 NE 1st Street Miami, FL 33132 Transfer of development rights & density The Property’s T6-80-O zoning permits tremendous intensity and density - more than can be constructed on the site’s 7,505 SF footprint. Fortunately for developers, the Miami 21 code permits historically designated properties the sale of excess buildable square footage via a Transfer of Development Rights (TDR), and sale of excess buildable units via a Transfer of Development Density (TDD). Use of TDRs and TDDs will permit a developer to reduce their basis in the project. The Property is pre-qualified for sale of these excess development rights, per Chapter 23, Article I, Sec. 23-6 of the Miami Code of Ordinances (available at this link). The remaining development rights available for sale after construction of the hotel project are shown in the table below. Zoning T6-80-O TDR’s Calculation Lot Area 5,000 sf minimum 7,505 sf Floor Lot Ratio 24 by right 180,120 sf Proposed Building Total Gross Square Footage 95,283 sf Remaining buildable square footage 84,837 sf Individual historic resource multiplier 2.25x Transfer of development rights (TDR's) 190,883.25 sf Zoning T6-80-O TDD’s Calculation Lot Area 5,000 sf minimum 0.17 acre
Load more

Recommended publications
  • Macy's Redevelopment Site Investment Opportunity
    Macy’s Redevelopment Site Investment Opportunity JOINT VENTURE OR 100% SALE FLAGLER STREET & MIAMI AVENUE, DOWNTOWN MIAMI CLAUDE PEPPER FEDERAL BUILDING TABLE OF CONTENTS EXECUTIVE SUMMARY 3 PROPERTY DESCRIPTION 13 CENTRAL BUSINESS DISTRICT OVERVIEW 24 MARKET OVERVIEW 42 ZONING AND DEVELOPMENT 57 DEVELOPMENT SCENARIO 64 FINANCIAL OVERVIEW 68 LEASE ABSTRACT 71 FOR MORE INFORMATION, CONTACT: PRIMARY CONTACT: ADDITIONAL CONTACT: JOHN F. BELL MARIANO PEREZ Managing Director Senior Associate [email protected] [email protected] Direct: 305.808.7820 Direct: 305.808.7314 Cell: 305.798.7438 Cell: 305.542.2700 100 SE 2ND STREET, SUITE 3100 MIAMI, FLORIDA 33131 305.961.2223 www.transwestern.com/miami NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN, AND SAME IS SUBMITTED SUBJECT TO OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITION, WITHOUT NOTICE, AND TO ANY LISTING CONDITIONS, IMPOSED BY THE OWNER. EXECUTIVE SUMMARY MACY’S SITE MIAMI, FLORIDA EXECUTIVE SUMMARY Downtown Miami CBD Redevelopment Opportunity - JV or 100% Sale Residential/Office/Hotel /Retail Development Allowed POTENTIAL FOR UNIT SALES IN EXCESS OF $985 MILLION The Macy’s Site represents 1.79 acres of prime development MACY’S PROJECT land situated on two parcels located at the Main and Main Price Unpriced center of Downtown Miami, the intersection of Flagler Street 22 E. Flagler St. 332,920 SF and Miami Avenue. Macy’s currently has a store on the site, Size encompassing 522,965 square feet of commercial space at 8 W. Flagler St. 189,945 SF 8 West Flagler Street (“West Building”) and 22 East Flagler Total Project 522,865 SF Street (“Store Building”) that are collectively referred to as the 22 E.
    [Show full text]
  • 2016 Cruise Guide
    CRUISE CAPITAL OF THE WORLD GLOBAL GATEWAY 2016 Cruise Guide GLOBAL GATEWAY 2016 Cruise Guide 2 Cruising from PortMiami is Only Getting Better More Cruise Brands and New Build Ships It is an exciting time at PortMiami! There is no doubt that PortMiami’s cruise facilities are the most modern in the the Cruise Capital of the World continues to expand as world, providing easy passenger boarding and departure. the world’s leading cruise port. Last year PortMiami By continuously investing in cruise facility improvements, set another word record in cruise passengers, nearly PortMiami maintains its position as market leader and 4.9 million sailed through PortMiami - more than any is prepared for the newest generation of cruise vessels. other port in the world. Currently on the drawing board are plans to expand the cruise footprint, including options for new cruise berths PortMiami is poised for yet another exceptionally strong and terminals as well as associated intermodal and cruise season as it welcomes a host of new cruise brands parking facilities. and new build ships that rank among the most innovative vessels on the seas today. With 19 cruise brands berthing 42 ships PortMiami is clearly the departure destination of choice for cruises to New for the 2015-16 cruise season is the arrival of the Bahamas, the Caribbean, Mexico and beyond, offering Norwegian Cruise Line’s new build ship, the Norwegian cruise vacations for every taste and budget - from family Escape. Many of PortMiami’s current cruise partners fun to luxury cruising. PortMiami’s ships have amenities are also expanding their Miami fleets.
    [Show full text]
  • Views the Miami Downtown Lifestyle Has Evolved
    LOFT LIVINGwww.miamicondoinvestments.com REDESIGNED Feel the Street. At Your Feet. Out your window. At your feet. www.miamicondoinvestments.com ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING THE REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THIS BROCHURE AND TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE. OBTAIN THE PROPERTY REPORT REQUIRED BY FEDERAL LAW AND READ IT BEFORE SIGNING ANYTHING. NO FEDERAL AGENCY HAS JUDGED THE MERITS OR VALUE, IF ANY, OF THIS PROPERTY. See Legal Disclaimers on Back Cover. See Legal Disclaimers on Back Cover. www.miamicondoinvestments.com See Legal Disclaimers on Back Cover. Welcome to the Core of Downtown Life. www.miamicondoinvestments.com See Legal Disclaimers on Back Cover. See Legal Disclaimers on Back Cover. At the center of all life is a place from which all energy flows. In the heart of downtown Miami’s cultural and This is the fusion of commercial district, this is Centro - the new urban address inspired by today’s modern lifestyles. Smart and sleek... Lofty and livable... Inviting and exclusive... work, play, creativity, the Centro experience takes cosmopolitan city dwelling to street level. and accessibility. Step inside. www.miamicondoinvestments.com www.miamicondoinvestments.com See Legal Disclaimers on Back Cover. See Legal Disclaimers on Back Cover. Centro stands as proof that you truly can have it all. Location, style, quality, and value are all hallmarks of life Building Amenities Comfort. in our city center. • Triple-height lobby entrance • 24-Hour reception desk Step outside your door and find yourself in Miami’s • Secured key-fob entry access Convenience.
    [Show full text]
  • Wynwood Development Table of Contents 03 Project Overview
    TOTAL AREA: 60,238 SQ.FT. Wynwood Development Table of Contents 03 Project Overview 15 Conceptual Drawings 17 Location 20 Demographics 23 Site Plan 26 Building Efficiency 29 RelatedISG Project Overview Project This featured property is centrally located in one of Miami’s hottest and trendiest neighborhood, Wynwood. The 60,238 SF site offers the unique possibility to develop one of South Florida’s most ground-breaking projects. There has only been a select amount of land deals in the past few years available in this neighborhood, and it is not common to find anything over 20,000 SF on average. With its desirable size and mixed use zoning, one can develop over 300 units with a retail component. Wynwood has experienced some of the highest rental rates of any area of South Florida, exceeding $3 per SF, and retail rates exceeding $100 SF. As the area continues to grow and evolve into a world renowned destination, it is forecasted that both residential and retail rental rates will keep increasing. Major landmark projects such as the Florida Brightline and Society Wynwood, as well as major groups such as Goldman Sachs, Zafra Bank, Thor Equity and Related Group investing here, it is positioned to keep growing at an unprecedented rate. Name Wynwood Development Style Development Site Location Edgewater - Miami 51 NE 22th Street Miami, FL 33137 Total Size 60,238 SQ. FT. (1.3829 ACRES) Lot A 50 NE 23nd STREET Folio # 01-3125-015-0140 Lot B 60 NE 23nd STREET Folio 01-3125-011-0330 Lot C 68 NE 23rd STREET Folio 01-3125-011-0320 Lot D 76 NE 23rd STREET Folio 01-3125-011-0310 Lot E 49 NE 23rd STREET Folio 01-3125-015-0140 Lot F 51 NE 23rd STREET Folio 01-3125-015-0130 Zoning T6-8-O URBAN CORE TRANSECT ZONE 04 Development Regulations And Area Requirements DEVELOPMENT REGULATIONS AND AREA REQUIREMENTS DESCRIPTION VALUE CODE SECTION REQUIRED PERMITTED PROVIDED CATEGORY RESIDENTIAL PERMITTED COMMERCIAL LODGING RESIDENTIAL COMMERCIAL LODGING RESIDENTIAL LODGING PERMITTED GENERAL COMMERCIAL PERMITTED LOT AREA / DENSITY MIN.5,000 SF LOT AREA MAX.
    [Show full text]
  • Miami Office Space Can Be Found by Those Who Search February 7, 2017 By: Carla Vianna
    Miami Office Space Can Be Found by Those Who Search February 7, 2017 By: Carla Vianna Businesses searching for space in Miami's urban core have more options than they might think. While vacancy rates are down across the board, significant chunks of space are available in several Class A buildings in downtown and the Brickell Avenue financial district. "There are more alternatives available for those companies that take the time to appropriately investigate the market," said Chris Lovell, a senior managing director with Savills Studley in Miami. Leasing space on an upper floor with a view may be difficult since only six buildings on Brickell have a full floor above the 20th story available for lease. For tenants that can live without the view, there is plenty of open space to choose from. Four downtown Class A buildings have at least 75,000 square feet of contiguous space available, one Class A building on Brickell has a 65,000- square-foot block — "and we don't have tenants of that size standing in line to the claim the space," Lovell said. Savills Studley has found many of the large available blocks are in older downtown buildings. "You're always going to have buildings that are going to have certain pockets available," said Tere Blanca, founder of Miami-based Blanca Commercial Real Estate Inc. She said the market is responding well to the new Miami Central project, which is under construction with 60 percent of its office component pre- leased. The mixed-use development will serve as Brightline's downtown train station and will add 286,000 square feet of office space in two buildings.
    [Show full text]
  • Front Desk Concierge Book Table of Contents
    FRONT DESK CONCIERGE BOOK TABLE OF CONTENTS I II III HISTORY MUSEUMS DESTINATION 1.1 Miami Beach 2.1 Bass Museum of Art ENTERTAINMENT 1.2 Founding Fathers 2.2 The Wolfsonian 3.1 Miami Metro Zoo 1.3 The Leslie Hotels 2.3 World Erotic Art Museum (WEAM) 3.2 Miami Children’s Museum 1.4 The Nassau Suite Hotel 2.4 Pérez Art Museum Miami (PAMM) 3.3 Jungle Island 1.5 The Shepley Hotel 2.5 Miami Science Museum 3.4 Rapids Water Park 2.6 Vizcaya Museum & Gardens 3.5 Miami Sea Aquarium 2.7 Frost Art Museum 3.6 Lion Country Safari 2.8 Museum of Contemporary Art (MOCA) 3.7 Seminole Tribe of Florida 2.9 Lowe Art Museum 3.8 Monkey Jungle 2.10 Flagler Museum 3.9 Venetian Pool 3.10 Everglades Alligator Farm TABLE OF CONTENTS IV V VI VII VIII IX SHOPPING MALLS MOVIE THEATERS PERFORMING CASINO & GAMING SPORTS ACTIVITIES SPORTING EVENTS 4.1 The Shops at Fifth & Alton 5.1 Regal South Beach VENUES 7.1 Magic City Casino 8.1 Tennis 4.2 Lincoln Road Mall 5.2 Miami Beach Cinematheque (Indep.) 7.2 Seminole Hard Rock Casino 8.2 Lap/Swimming Pool 6.1 New World Symphony 9.1 Sunlife Stadium 5.3 O Cinema Miami Beach (Indep.) 7.3 Gulfstream Park Casino 8.3 Basketball 4.3 Bal Harbour Shops 9.2 American Airlines Arena 6.2 The Fillmore Miami Beach 7.4 Hialeah Park Race Track 8.4 Golf 9.3 Marlins Park 6.3 Adrienne Arscht Center 8.5 Biking 9.4 Ice Hockey 6.4 American Airlines Arena 8.6 Rowing 9.5 Crandon Park Tennis Center 6.5 Gusman Center 8.7 Sailing 6.6 Broward Center 8.8 Kayaking 6.7 Hard Rock Live 8.9 Paddleboarding 6.8 BB&T Center 8.10 Snorkeling 8.11 Scuba Diving 8.12
    [Show full text]
  • Unintentional Fall Injury Hospitalizations, Residents Age 65 and Older, 2007-2009
    Unintentional Fall Injury Hospitalizations, Residents Age 65 and Older, 2007-2009 The areas of the county with the highest elderly unintentional injury hospitalization rates over the 3- year period 2007-2009 were: 1. The zip code 33030 which represent sections of Homestead. 2. The zip code 33182 which represents a section of unincorporated Miami-Dade west of Doral. 3. The zip code 33136 which represents sections of Little Havana in the City of Miami. 4. The zip code 33166 which represents the communities of Miami Springs and Medley. Source: Hospital Discharge Data, Agency for Health Care Administration Unintentional Fall Injury Hospitalizations, Residents Age 65 and Older, 2007-2009 2007 2008 2009 2007-09 Zip Code: Communities hosps hosps hosps Avg. Rate/100,000 33137: Upper E. Side, Wynwood & Little Haiti 39 45 31 1,746.5 33131: Downtown 5 12 12 1,617.9 33145: Coral Way, Shenandoah 95 106 110 1,610.7 33136: Overtown, Allapatttah 23 22 21 1,605.3 33134: Coral Gables, Flagami 115 104 130 1,594.0 33185: Unincorp M-D (W. of Tamiami) 25 18 28 1,562.9 33166: Miami Springs, Medley 47 45 38 1,557.6 33173: Kendall 71 80 99 1,483.5 33129: Coral Way, Brickell 33 29 33 1,480.3 33182: Unincorp M-D (W. of Doral) 12 19 23 1,471.4 33012: Hialeah 216 245 218 1,439.1 33010: Hialeah 138 129 132 1,430.5 33139: South Beach 114 107 111 1,405.3 33126: Flagami, Doral, Airport 107 130 132 1,390.1 33030: Homestead 21 27 38 1,381.2 33175: Kendale Lakes, Tamiami 99 123 108 1,378.7 33014: Miami Lakes, Hialeah 71 64 78 1,372.5 33180: Aventura, Ojus 111 103 109 1,360.0
    [Show full text]
  • OFFERING MEMORANDUM Miami, FL 33131 235 SE 1St Street Themiamiplaza.Com
    THE P LA ZA themiamiplaza.com MEMORANDUM 235 SE 1st Street Miami, FL 33131 OFFERING THE P LA ZA THE P LA ZA 235 SE 1st Street THE OFFERING Miami, FL 33131 he Plaza is a 81,000 SF office building Ton a 20,000 SF corner lot located in the heart of Downtown Miami and its most prominent corner. The site benefits from the most liberal mixed-use zoning in all of South Florida, T6-80-O, allowing up to 489,600 SF of development and 470 residential units. The Plaza is an amazing add value office building with tremendous future uses for development. Developers will benefit from the ability to receive temporary cash flow while waiting on the next cycle or plan approval. THE CORNER OF DOWNTOWN MIAMI THE P LA ZA PROPERTY SUMMARY + + Address: Lot Size: Building Size: Zoning: FLR Allowable FLR Allowable +Bonus Building Height: Building Height +Bonus: Allowable Units: Folio: 235 SE 1st St. 20,400/ 81,382 SF T6-80-O 489,600 SF Unlimited 80 Unlimited 470 01-0112-000-1020 Miami, FL 33131 0.47 Acres 6 7 FOUR SEASONS BRICKELL CITY INVESTMENT CENTRE ICON BRICKELL HIGHLIGHTS SOUTHEAST FINANCIAL CENTER WELLS FARGO CENTER MIAMI TOWER ASTON MARTIN JAMES L. KNIGHT RESIDENCES CENTER MET SQUARE CINEPLEX WHOLE FOODS CENTRO Covered Land with In-Place Income he Plaza is a prime opportunity to repurpose or add value to an existing Tclass C office building located in Downtown’s most highly trafficked corridor. The property is positioned to capture an already active-large tenant base with over 175,000 employees existing within Downtown’s LA EPOCA Central Business District.
    [Show full text]
  • Allapattah Prime Retail Space for Lease
    ALLAPATTAH PRIME RETAIL SPACE FOR LEASE 1260 NW 29TH ST MIAMI, FLORIDA 1260 NW 29TH ST PROPERTY OVERVIEW CURRENT CONDITION AVAILABLE SPACE +/- 1,200- 8,906 SF (Contiguous) ZONING PROPOSED RENOVATION D-1 LEASING RATE $20/ SF NNN *RENDERING/ILLUSTRATIONS ARE FOR MARKETING PURPOSES ONLY Ideal uses include but not limited to: • Boutique shops • 3 spaces featuring +/- 1,200 SF each • Art galleries • 1 space featuring +/- 5,306 SF • Creative offices • Proposed to undergo renovation • Fitness Center • Expected to help pave the way for further • Showroom development of the area • Other retail-driven concept 1260 NW 29TH ST PHOTOS NW 29TH ST NW 29TH ST NW 12TH AVE NW 29TH ST NW 29TH ST OTHER HIGHLIGHTS • Located in up-and-coming Allapattah, one of Miami’s most sought-after commercial submarkets • The neighborhood is currently undergoing a development boom, with many citing it as “The next Wynwood” • Allapattah is often compared to New York’s Meatpacking District or the Fulton Market in Chicago years before they became must-see destinations • Adjacent to Wynwood, Miami Design District, Midtown, Edgewater, and more • Convenient access to I-195 and I-95 Expressways • Easy access to the Metrorail System and public transportation 1260 NW 29TH ST AERIAL VIEW DOWNTOWN DESIGN EDGEWATER BRICKELL DISTRICT WYNWOOD MIAMI Subject Property 1260 NW 29TH ST NW 13TH AVE NW 29TH ST Subject Property 1260 NW 29TH ST NW 13TH AVE NW 29TH ST 1260 NW 29TH ST MORE ABOUT ALLAPATTAH NEW DEVELOPMENTS RIVER LANDING (Scheduled completion 2020) A new project currently under construction right on the Miami River, which will bring new shops and residences to revitalize Allapattah and perhaps make it explode into Miami’s next Wynwood.
    [Show full text]
  • Marketing Brochure/Flyer
    1331 WASHINGTON AVENUE FOR LEASE 1331 Washington OPPORTUNITY HIGHLIGHTS Avenue MIAMI BEACH Florida, 33139 RETAIL AVAILABLE 4,300 SF FRONTAGE 50 FT SUGGESTED USE RETAIL, POP-UP, SALON, SPA, COFFEE-SHOP & MORE NEIGHBORING CO –TENANTS ZARA, STARBUCKS, CENTRAL SOUTH BEACH LOCATION HEAVY PEDESTRIAN TRAFFIC FOOTLOCKER, 3 BLOCKS TO LINCOLN ROAD 2 BLOCKS TO BEACH HAVANA 1957, CRUNCH FITNESS SOUTH MIAMI MIAMI INTERNATIONAL AIRPORT LOCATION OVERVIEW MARLINS PARK CORAL GABLES LITTLE HAVANNA ALLAPATTAH MIAMI WORLD CENTER AMERICAN AIRLINES ARENA DOWNTOWN / BRICKELL WYNWOOD EDGEWATER MIDTOWN DESIGN DISTRICT WATSON ISLAND PORT OF MIAMI PALM ISLAND VIRGINIA KEY VENETIAN ISLANDS STAR ISLAND LINCOLN ROAD FISHER ISLAND MOUNT SINAI MEDICAL CENTER WASHINGTON AVE SOUTH BEACH MB CONVENTION CENTER Subject Property MID BEACH AERIAL PHOTO Ritz Carlton Loews Royal Palm Time Out Market Subject Property Cardozo Hotel 8 Parking Spaces PROPERTY PHOTOS THE NEIGHBORHOOD MIAMI BEACH MARKET DATA UNPARALLELED LOCAL, NATIONAL AND INTERNATIONAL PULL MIAMI BEACH IS AN UNRIVALED TOURISM MARKET DISCLAMER No warranty or representation expressed or implied is made as to the accuracy of the information contained herein, and same is submitted subject to errors, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals. #STAYCURRENT STEFANO SANTORO Current is a forward-thinking commercial real estate firm that uniquely leverages social media and technology to identify the best opportunities for our clients. The Current team creates compelling and engaging content that drives interest from the right demographic. We employ a hands-on, time-intensive and vertically integrated approach to ensure we achieve the best possible outcome for our clients.
    [Show full text]
  • MIRACLE MILE - Between Le Jeune Rd
    TERRANOVA www.terranovacorp.com | 305.695.8700 801 Arthur Godfrey Road, Suite 600 Miami Beach, FL 33140 BY THE NUMBERS LINCOLN ROAD - Between Alton Road and Washington Ave. 525,477 sf 6.2% $203.34 of AVERAGE VACANCY RATE Inventory ASKING NET RENT COLLINS AVENUE - Between 5th Street and 10th Street 201,297 sf 4.3% $88.56 of AVERAGE VACANCY RATE Inventory ASKING NET RENT OCEAN DRIVE - Between 5th Street and 15th Street. 165,768 sf $97.53 of 3.0% VACANCY RATE AVERAGE Inventory ASKING NET RENT MIRACLE MILE - Between Le Jeune Rd. and Douglas Rd. 440,886 sf $44.60 of 6.2% VACANCY RATE AVERAGE Inventory ASKING NET RENT LAS OLAS BOULEVARD - Between SE 6th Ave. to SE 16th Ave. 367,803 sf 5.3% $36.17 of AVERAGE VACANCY RATE Inventory ASKING NET RENT CLEMATIS STREET - Between Olive Ave. and Quadrille Blvd. 329,086 sf $23.22 of 12.2% VACANCY RATE AVERAGE Inventory ASKING NET RENT WORTH AVENUE - Between Ocean Blvd. and Coconut Row 319,387 sf $75.61 of 2.4% AVERAGE VACANCY RATE Inventory ASKING NET RENT FLAGLER STREET - Between Biscayne Blvd. and NW First Ave. 372,541 sf $29.25 of 10.1% VACANCY RATE AVERAGE Inventory ASKING NET RENT SOUTH MIAMI - Between US-1 and SW 57th Ave. 244,082 sf 0% N/A of AVERAGE Inventory VACANCY RATE ASKING NET RENT TAKING TO THE STREET: URBAN RETAILSCAPE IN SOUTH FLORIDA Occupancy and asking rents have renovation and revival, compared to kept an upward trend in South the other streets.
    [Show full text]
  • Miami Biscayne Bay Millionaire Row Boat Tour Pick up List
    Miami Biscayne Bay Millionaire Row Boat Tour Pick Up List Name Address City Time 1 Central Station-Bayside 401 Biscayne Blvd, Miami FL Downtown 10:10 AM 2 Eden Roc Renaissance Miami Beach (RAMP) 4525 Collins Ave. Miami Beach, FL Miami Beach 9:15 AM 3 1 Hotel South beach 2341 Collins Ave Miami Beach 9:30 AM 4 AC Hotel by Marriott 2912 collins ave. Miami Beach 9:30 AM 5 Acqualina Resort & Spa on the Beach (RAMP) 17875 Collins Ave. Sunny Isles, FL Miami Beach 8:00 AM 6 Alexander Hotel Miami Beach (RAMP) 5225 Collins Ave. Miami Beach, FL Miami Beach 9:00 AM 7 Avalon Hotel 700 Ocean Dr., Miami Beach, FL Miami Beach 9:50 AM 8 Baltic Hotel 7643 Harding Ave., Miami Beach, FL Miami Beach 8:50 AM 9 Beach Paradise Hotel 600 Ocean Dr. Miami Beach, FL Miami Beach 9:50 AM 10 Beach Plaza 1401 Collins Avenue Miami 9:40 AM 11 Bentley Hotel 510 Ocean Dr. Miami Beach, FL Miami Beach 9:50 AM 12 Berkeley Shore Hotel 1610 Collins Ave. Miami Beach 9:40 AM 13 Best Western Atlantic Beach Resort (RAMP) 4101 Collins Ave. Miami Beach, FL Miami Beach 9:15 AM 14 Best Western Oceanfront Resort (RAMP) 9365 Collins Ave. Bal Harbour, FL Miami Beach 8:50 AM 15 Betsy Hotel 1440 Ocean Dr. Miami Beach, FL Miami Beach 9:40 AM 16 Blanc Kara Hotel 205 Collins Ave Miami 9:50 AM 17 Blue Moon Hotel 944 Collins Ave. Miami Beach, FL Miami Beach 9:50 AM 18 Boulan South Beach 2000 Collins Ave Miami 9:30 AM 19 Carillon Miami Beach 6801 Collins Ave.
    [Show full text]