Roche Bobois has signed a lease for 4,435 square feet at the site of the upcoming Hampton Inn & Suites at 3450 Biscayne Boulevard in Miami’s Edgewater neighborhood, The Real Deal has learned.
Irma Figueroa, director of retail leasing and sales for Comras Company, who brokered both sides of the deal, told TRD that the French furniture store will take up the entire ground floor of the building. It will mark the fourth showroom for Roche Bobois in South Florida, after Coral Gables, Aventura and Palm Beach. The store is now beginning to build out the space, which is expected to open in the next few months. “It’s a great brand for that corridor,” Figueroa said, but she declined to disclose lease terms.
The hotel is also nearing completion, she said. Miami-based Mayan Properties, 3H Group Hotels and Arti Hersi Inc. are partnering on the 151-room hotel, which has been under construction for about two years. Midtown Lodging bought the site in November 2014 for $4.5 million. The firm was approved for an $18.3 million loan from Florida Community Bank in December 2014.
The developments, in turn, are boosting the area’s demand for retail space, commercial brokers say.
In May, New York-based Infinity Real Estate paid $4.85 million for a 6,794-square-foot retail condo space at Paramount Bay at 2063 Biscayne Boulevard. The current tenant is Visionnaire, a home furnishings store. Figueroa also brokered both sides of that transaction.