TSG Group unveils Miami Design District retail project

Developer plans a three-story, 9,000 sf building on the corner site

TRD MIAMI /
Jul.July 13, 2017 01:15 PM

TSG Group just revealed plans to build a retail project on a development site it owns in the Miami Design District.

TSG has been sitting on the land since 2015, property records show. The firm, which has its office across the street, plans to turn a 5,100-square-foot corner lot at 17 Northeast 41st Street into a three-story, 9,000-square-foot building, according to a press release.

CBRE’s Paco Diaz will handle leasing of DD41. The development is being designed by Wynwood-based Royal Byckovas, the architecture firm behind the St. Regis Hotel and Residences in Argentina and the Bal Harbour Tower.

Records show the developer paid $5 million for the site in 2015. Camilo Lopez, CEO and managing partner of TSG, said CBRE is working to secure a fashion brand for the build-to-suit project. He expects construction to start by the second quarter of next year and open by the summer of 2019.

The site is next to the De La Cruz Collection and just north of the Orlean building at 3801 North Miami Avenue, which sold in March for $9 million. BH3 paid $2,137 per square foot for the building, and $1,116 a foot for the land.

The Design District — broadly defined as the area from Biscayne Boulevard to North Miami Avenue, and from the north side of 36th Street to 42nd Street, with the center the Paseo Ponti and First Avenue — is the subject of a multimillion-square-foot revamp that will ultimately include 120 stores and at least 15 eateries in the neighborhood by the end of 2018. Current tenants include Hermes, Tiffany & Co., Louis Vuitton and Dior.


Related Articles

arrow_forward_ios
Vladislav Doronin (Credit: Gesi Schilling via Wikipedia)

Billionaire developer Doronin buys Fort Lauderdale assemblage for $63M

Billionaire developer Doronin buys Fort Lauderdale assemblage for $63M
Seth Wise, Co-CEO of The Altman Companies, Altís Ludlam Trail

Altman scores $55M construction loan for Ludlam Trail project

Altman scores $55M construction loan for Ludlam Trail project
Joseph Swedroe (Corcoran, iStock)

Corcoran agent in Miami loses job over “racist and fear-based” marketing

Corcoran agent in Miami loses job over “racist and fear-based” marketing
Remy Jacobson, Jean-Marc Jacobson, 4141 North Miami Avenue (Credit: Google Maps and REALTOKEN)

Remy Jacobson allegedly in default on Design District loan: lawsuit

Remy Jacobson allegedly in default on Design District loan: lawsuit
Vanessa Grout with Vladislav Doronin

Vanessa Grout leaves Ugo Colombo’s firm to lead OKO Group’s real estate arm

Vanessa Grout leaves Ugo Colombo’s firm to lead OKO Group’s real estate arm
Rendering of the project with Jon Paul Pérez (top) and Jorge Pérez 

Related switches gears on Terminal Island project, now plans low-rise offices

Related switches gears on Terminal Island project, now plans low-rise offices
Inside South Florida’s mall, retail and restaurant reopenings

Inside South Florida’s mall, retail and restaurant reopenings

Inside South Florida’s mall, retail and restaurant reopenings
Edgardo Defortuna and a rendering of La Playa de Varadero

Not stopping for the pandemic: Fortune, Château could launch Sunny Isles project by year-end

Not stopping for the pandemic: Fortune, Château could launch Sunny Isles project by year-end
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...