MIAMI BEACH, FL 33139
RARE COLLINS AVENUE OFFERING WITH REDEVELOPMENT POTENTIAL
OFFERING SUMMARY OFFERING INTRODUCTION
PROPERTY SUMMARY
Cushman & Wakefield of Florida, LLC is pleased to offer for sale 800 Collins, an iconic 9,400 sf two-story, mixed-use building ideally situated in the heart of Miami Beach’s famed Collins Avenue Fashion District. Located on a hard corner at the “main- ADDRESS BUILDING GLA and-main” intersection of Collins Avenue and 8th Street 800 COLLINS AVE amongst a cluster of more than two dozen trendy high street 9,400 SF FLORIDA 33139 retailers and boutique hotels, the exceptional location is also just one block from both Ocean Drive’s sandy beaches and Washington Avenue’s wave of transformative YEAR BUILT POTENTIAL REDEVELOPMENT redevelopment to the east and west, respectively. 1934 14,000 SF Most recently upgraded for retail uses, the vacant historic property’s well-maintained physical plant, SITE AREA tremendous foot traffic and favorable MXE STORIES 7,000 SF zoning offer a canvas for a myriad of mixed use 2 redevelopment strategies, including retail, office, ±0.16 acres hospitality and residential.
This offering represents a rare opportunity FAR ZONING to acquire and reposition irreplaceable 2.0 MXE real estate to create value in one the world’s premier beach destinations for fashion, dining and entertainment. Cushman & Wakefield | 800 Collins Ave 2 EXECUTIVE SUMMARY INVESTMENT HIGHLIGHTS
• Rare opportunity to own a trophy boutique asset in the high- • Strong leasing history, including Banana Republic most recently barrier-to-entry, global destination of South Beach • Unrivaled tourism market in Miami Beach, which welcomes • Hard corner, “main-and-main” location with tremendous foot nearly 16M annual visitors to its beaches and world class traffic in the heart of the Collins Avenue Fashion District, home events such as Art Basel, South Beach Food & Wine Festival, to more than two dozen retailers including H&M, Sephora, Miami Beach International Fashion Week, and Winter Music Adidas Conference
• Favorably MXE zoning allows for a mixture of uses including • Positive impact from more than 50 projects (planned or under retail, office, restaurant, residential, and hospitality construction) in Miami Beach, including:
• Well maintained, modernized physical plant, with efficient floor • $620M Convention Center renovation/expansion and plans that can be easily subdivided recently approved 800 room hotel
• Walkable “live-work-play” location (rated Walker’s Paradise), • Washington Avenue Business Improvement District (BID) proximate to beaches, nationally acclaimed restaurants, established between Fifth & 17th Streets shopping, ultra-luxury condominiums, nightlife, hotels and parks Cushman & Wakefield | 800 Collins Ave 3 Lincoln Rd.
8th St.
5th St.
Ocean Dr.
Collins Ave. Washington Ave. Washington
MIAMI BEACH AT A GLANCE 15.9 MM $26 B 7,564 2.8 MM $55 B TOTAL TOTAL VISITOR HOTEL ROOMS TOTAL RETAIL SALES VISITORS* SPENDING* (66 HOTELS) POPULATION (MIAMI)* 1 MILE RADIUS 0.8% $69,000 # 1 78% 12 MONTH HOUSEHOLD CRUISE SHIP ANNUAL AVERAGE POPULATION INCOME PORT IN THE WORLD HOTEL GROWTH (5.3MM PASSENGERS) OCCUPANCY* Cushman & Wakefield | 800 Collins Ave 4 * Source: Miami Visitor and Convention Bureau THE TIDES SOUTH BEACH HOTEL VICTOR
GIANNI VERSACE MANSION THE MOXY HOTEL THE CLEVELANDER BAR THE WOLFSONIAN LUMMUS PARK
MANGO’S TROPICAL CAFE
THE HOTEL
THE PELICAN CAFE
NEWS CAFE COLLINS AVE. THE COLONY HOTEL
WASHINGTON AVE.
TH ST. 8
Cushman & Wakefield | 800 Collins Ave 5 KEY BISCAYNE MIAMI VIRGINIA KEY PARK ON FIFTH FISHER ISLAND PORT MIAMI MACARTHUR CAUSEWAY KIMPTON ANGLER’S HOTEL
THE SAVOY HOTEL WASHINGTON SQUARED HOTEL
COLLINS AVE RETAIL CORRIDOR WASHINGTON AVE.
COLLINS AVE.
OCEAN DR.
Cushman & Wakefield | 800 Collins Ave 6 EXECUTIVE SUMMARY LOCATION HIGHLIGHTS
¨¦§195 AN UNRIVALED TOURISM MARKET UVA1A 7.8M Total International Visitors
UV907
#1 Hottest Area in Miami-Dade Sunset Lake
#3 Most Visited City in the US Sunset Harbour by Overseas Travelers
Lincoln Road NEARBY POINTS OF INTEREST
Biscayne Bay
N Alton Road Alton
Collins Avenue (Fashion District)
ONE BLOCK UVA1A ONE BLOCK MacArthur Causeway WASHINGTON AVE OCEAN DRIVE/BEACH
UVA1A
Fisher Island Fry Atlantic Ocean Ocean Drive
South Pointe Park 0.9 MILES / 7 MINUTES 1.2 MILES / 8 MINUTES 1.4 MILES / 9 MINUTES LINCOLN ROAD THE FILLMORE MIAMI BEACH CONVENTION CENTER
Fisher Island Cushman & Wakefield | 800 Collins Ave 7 EXECUTIVE SUMMARY DEVELOPMENT HIGHLIGHTS
Miami Beach Convention Center Hotel
Lincoln Road Renovation
Miami Beach Convention Center
Even as many of Miami’s emerging urban neighborhoods on the mainland • In April 2018, the City of Miami Beach approved a resolution receive considerable investment and attention, Miami Beach’s unique designating the stretch of Washington Avenue from Fifth to 17th coastal allure continues to attract significant investment from developers streets as the Washington Avenue Business Improvement District around the world. There are more than 50 projects currently proposed (BID), which will be active for 10 years and will create a tax fund or under construction in Miami Beach, including the following notable for improvement and beautification projects. This designation developments, which will continue to attract businesses, permanent and has already drawn interest from developers, including Washington seasonal residents, and tourists, and further elevate its status as a world Squared’s seven-story, 312 room hotel with 47,000 SF of retail and Lightstone Group’s 202-room Moxy Hotel. class city. • Lincoln Road is currently undergoing a $47M renovation project • The three-year, $620M Miami Beach Convention Center renovation led by James Corner of Field Operations (the New York landscape and expansion is slated to be completed by the end of 2018, expanding architectural firm responsible for the High Line in New York City) the Convention Center to 1.4M SF and including 12 acres of public that will enhance the shopping and dining experience by upgrading green space, four new ballrooms ranging from 10,000 square feet to infrastructure and organizing space along with revising the entrance 60,000 square feet, 127,000 square feet of new meeting space, and to Lincoln Road from Washington Avenue. a 500,000-square-foot exhibition hall. • Other notable developments in Miami Beach include: Crescent • A recently approved 185-foot-tall, 800-room Miami beach Height’s proposed 44 story, 410 unit residential condo project and Convention Center hotel, developed by a partnership between Terra urban park at 500 Alton, Baptist Health Primary Care’s 122,000 SF Group and Turnberry Associates, will greatly expand the available Urgent Care Center, Comras’ proposed BLVD at Lenox, a 33,000 SF, hotel rooms connected to the Convention Center, which generates Target-anchored vertical retail project and Roca Group’s proposed an economic impact of almost $2BN annually. five-story, 27,000 SF hotel. Cushman & Wakefield | 800 Collins Ave 8 ASSET OVERVIEW INTERIOR PHOTOS Second Floor
Second Floor First Floor
Cushman & Wakefield | 800 Collins Ave 9 ASSET OVERVIEW SITE PLAN
Cushman & Wakefield | 800 Collins Ave 10 ASSET OVERVIEW
Second Floor Exit To Alley FLOOR PLAN Exist Exit Stair Circulation Retail 1 110 SF 157 SF Stair 2 Storage 86 SF OPTION 1 Existing Exit To Alley Way To Exist R.R 120 SF
Retail 4 Retail 3 Retail 2 Retail 1 Retail 1 1,011 SF 590 SF 671SF 1,457SF Entry Exist B.O.H R.R 101 SF
First Floor First 39 SF
Existing Exit To B.BT
Exist ElevatorLobby Office Access To Circulation 73 SF Second Floor 145 SF
Storage Existing 67 SF Elevator Retail 4 Retail 3 Retail 2 Retail 1 Entry Entry Entry Entry
Exist Exit Stair 110 SF Circulation Stair 2 398 SF
Men’s Bathroom 97 SF
Office Space 3,786 SF
Women’s Bathroom 89 SF Second Floor Second
Existing Elevator
M.E.P 103 SF
Cushman & Wakefield | 800 Collins Ave 11 ASSET OVERVIEW
Secong Floor Exit To Alley FLOOR PLAN
Exist Exit Stair Circulation OPTION 2 110 SF Retail 1 157 SF Stair 2 Storage Existing Exit To Alley Way To Exist R.R 120 SF
Retail 1 1,629 SF Retail 1 Entry Exist B.O.H Retail 2 2,247 SF R.R 101 SF 39 SF First Floor First Retail 2 Service Entry Existing Exit To B.BT
Elevator Lobby Exist Access To Second Floor Circulation Office 145 SF 73 AF
Storage Existing 67 SF Elevator Retail 1 Main Service Entry Entry
Exist Exit Stair Stair 2 110 SF Circulation 178 SF
Men’s Bathroom 97 SF Office Space 1 Office Space 2 2,013 SF 1,235 SF
Women’s Bathroom 89 SF Second Floor Second
Circulation 278 SF
M.E.P Existing 103 SF Elevator
Cushman & Wakefield | 800 Collins Ave 12 FOR MORE INFORMATION, PLEASE CONTACT: Cushman & Wakefield Retail Investment Advisors
INVESTMENT SALES LEASING FINANCING
MIGUEL ALCIVAR DOMINIC MONTAZEMI MIKE CIADELLA MARK GILBERT FRANK BEGROWICZ JASON HOCHMAN Director Managing Director Associate Executive Managing Director Director Senior Director [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] 305 533 2871 305 533 2850 954 377 0469 305 533 2866 305 533 2874 305 533 2876
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