Spec’s Records & Tapes, a mainstay in Coral Gables since 1953, was a casualty in the development of Chase Bank, the Miami Herald reported.
Demolition began on the property at 1570 South Dixie Highway last week, after the music store closed its door in February. The bank is expected to open later this year, next to Swensen’s restaurant, the newspaper said .
Spec’s was founded by the late Martin “Mike” Spector in 1948, eventually expanding to 80 stores in Florida as well as Puerto Rico. The Spector family sold it in 1998 to Camelot Music Group, and it was later acquired by Trans World Entertainment Corp. The chain was hit hard by Hurricane Andrew in 1992, and struggled to compete with other music chains. [Miami Herald] –Mark Maurer