The Real Deal Miami

Keith Corporation rolls out first tenants for Delray Square redevelopment

Former movie theatre will be razed in favor of new Publix location
August 06, 2017 10:00AM

Rendering of the redeveloped Delray Square

Delray Square, built in the 1970s, is about to get a major facelift.

The Keith Corporation is planning a redevelopment of the shopping center at 4771 West Atlantic Avenue and has just announced its initial lineup of new retailers.

Pet Supermarket, Chipotle and Chik-fil-A will all be opening at the development, and the former movie theatre will be razed in favor of a 45,600-square-foot space where the complex’s Publix Super Market will be relocating.

In addition to the movie theatre demolition, Keith Corporation plans to build an additional 17,000 square feet of retail and modernize the remaining 41,000 square feet.

Leasing is being handled by the Shopping Center Group, according to a news release. Roughly 85,000 square feet is up for grabs, including 51,700 square feet that’s intended for an anchor retailer. Asking rents range from $22 to $32 per square foot, according to Keith Corporation’s website.

Construction is expected to begin in phases this month, with retailers slated to open their doors by mid-year 2018. Publix would take slightly longer to open, with an opening date of fourth quarter next year.

Keith Corporation bought the 150,000-square-foot retail center in 2014 for $7.7 million, according to county records. The company is based in Charlotte, North Carolina. — Sean Stewart-Muniz