Terra’s Martin plans Design District retail project

Developer partners with retail specialist Comras on “The District 36”

TRD MIAMI /
Dec.December 13, 2013 04:30 PM

Terra Group’s David Martin and retail specialist Michael Comras are teaming up for a new development in Miami’s Design District they hope will create a pedestrian-friendly connection between the district and Midtown Miami, The Real Deal has learned.

A company managed by Martin has a contract to acquire a property at 3635 Northeast First Avenue that would be developed into The District 36. The purchase is expected to close early next month.

Martin and Comras, president and CEO of Miami Beach-based The Comras Company, are finalizing plans for a 60,000-square-foot project geared toward attracting high-end home furnishing retailers seeking showroom space.

Ahead of the closing, the demolition of the existing building is almost finished and a promotional fence wrap for the project surrounds the site.

Martin and Comras are currently working several firms on the project’s design.

“The District 36 fuels both the Design District and Midtown neighborhoods by expanding market demand for high-end home brands in Miami’s hottest retail and design hub,” Martin said in a written statement. “Our partnership with Comras Company allows us to maximize the area’s potential for luxury retail growth.”

Current zoning allows for 110 on-site parking spots and as many as 10 showrooms, according to Comras. The development would also include restaurant space and an art-filled walkway between the Design District and Midtown.

The site “abuts right up against I-195,” Comras told The Real Deal. “There’s nothing currently connecting the Design District and Midtown. This project can transform that area.”

Developer Craig Robins’ firm Dacra has been luring luxury fashion retailers to its $1 billion Design District project. Tenants already on board include Cartier, Hermes and Louis Vuitton.

But the arrival of these high-end retailers is sending many of the traditional district tenants, like home furnishing companies, looking for new locations. Comras said he is in talks with numerous retailers considering a move to The District 36. He has also heard from potential new-to-market tenants.

“I am speaking to many retailers interested in repositioning within the district or Midtown,” he said. “We have spaces starting at 3,000 and 4,000 square feet, so we are able to accommodate small and large tenants.”


Related Articles

arrow_forward_ios
Daniel Glass and Eighty Seven Park (Credit: Charley Gallay/Getty Images for Citi)

Music exec, Goldman Sachs director snag condos at Eighty Seven Park

Eighty Seven Park, David Martin of Terra

Terra, partners pay off Eighty Seven Park’s $155M construction loan

Rendering of Doral Square and David Martin

Terra boosts loan for Doral Square retail project by $19M

Alain and Gerard Wertheimer with the Chanel space on 41st Street (Credit: Chanel, Julien Hekimian/WireImage/Getty Images, and Google Maps)

Chanel to open store in Miami Design District

David Martin and Renzo Piano

Sneak peek inside Renzo Piano-designed Eighty Seven Park

David Martin and Jackie Soffer, with a rendering of the project

800-key Miami Beach Convention Center Hotel to be a Grand Hyatt

David Martin, Russell Galbut, and a 500 Alton rendering (Credit: The Next Miami)

Miami Beach, Crescent Heights, Terra agree to settle dispute over floor-to-area calculations

The sales team and sales gallery for Mr. C Residences

Condos at Mr. C Residences in Coconut Grove will start in the $600Ks

arrow_forward_ios
Loading...