The Real Deal Miami

CocoWalk gets five new tenants

Mall was purchased in May for $87.5M by developer trio

August 12, 2015 03:00PM

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The CocoWalk outdoor mall at 3015 Grand Avenue

The CocoWalk outdoor mall at 3015 Grand Avenue

The new owners of CocoWalk just signed on six new tenants ranging from boutique clothing stores to a Chase Bank location.

Coconut Grove’s 198,000-square-foot outdoor shopping center will be the new home for the Catch A’ Wave surf shop and Via Art Gallery, both of which are moving from the nearby Engle building, plus clothing stores Edite Mode, GCK International, Vicky Victoria, and a 3,000-square-foot Chase Bank location.

So far four of the pop-up stores are open: Catch A Wave, Edite Mode, Via Gallery and Vicky Victoria.

GCK International will open within the next month, but is already selling through its website, and the Chase location is under construction and will finish by the end of this year.

The pop-up shop leases were negotiated by the Comras Company, one of the three companies that acquired CocoWalk earlier this year in a deal valued at $87.5 million. The other two are Federal Realty Investment Trust, which bought an 80 percent share of the mall, and Grass River Property.

Michael Comras of the Comras Company

Michael Comras of the Comras Company

At the time of the sale, the trio announced plans to revamp CocoWalk, which was built in 1990, with a new mix of tenants.

“Anytime we can generate additional consumer foot traffic and help longtime Grove businesses remain in the neighborhood, as we’ve done by adding Catch A Wave and Via Gallery, we’re making progress toward our vision of a redeveloped CocoWalk that’s home to contemporary fashion brands, vibrant cafés and lifestyle tenants that draw locals,” Michael Comras, president of Comras Company said in a statement. — Sean Stewart-Muniz