Miami Worldcenter taps Comras to partner on retail leasing

300K sf of retail will include lifestyle tenants, large entertainment concepts, bars

Miami /
Mar.March 07, 2019 12:30 PM

Michael Comras and a rendering of Miami Worldcenter

The retail component of Miami Worldcenter is one step closer to becoming a reality.

The Forbes Company and Taubman Centers hired the Comras Company to partner on leasing of the 300,000 square feet of retail, restaurant and entertainment space at the 27-acre mixed-use development near Miami’s Overtown. Miami Worldcenter is under construction between Northwest First Avenue and Northeast Second Avenue and between Northeast Sixth Street and Northwest 11th Street.

Comras President and CEO Michael Comras, Jeff Evans and Michael Silverman will be working on Miami Worldcenter. Comras said the Seventh Street corridor, where the apartment building Caoba was recently completed, will cater to residents and employees in the area with lifestyle-type tenants that will include a coffee shop, salon, spa, specialty fitness, cafes and more.

Comras is targeting large entertainment concepts, theaters, breweries and sports bars, large fitness operators, a gourmet market or food hall, restaurants and lounges.

Retail spaces will range from 400 square feet to 50,000 square feet and up. Comras will also be reaching out to fashion, athleisure, cosmetics and beauty, and clicks-to-bricks retailers.

The retail space is expected to start opening at the end of 2020, he said.

On rents, Comras declined to provide specific rates, adding that, “I would like to say we’re a young Brickell.”

Caoba, the first building at the $4 billion, 10-block complex was recently completed by CIM Group and Falcon Group. Rents at the 444-unit rental tower, at 698 Northeast First Avenue, start at about $1,800 for a 349-square-foot studio. Next to be delivered is Paramount Miami Worldcenter, a 60-story condo tower with more than 500 residential units, which is 85 percent sold. It’s expected to open in May.

Miami Worldcenter will also have a 348-room CitizenM hotel, a 434-unit rental tower, a 1,100-space parking garage, a 1,700-room convention center hotel from MDM Development Group and an office tower being built by Hines with up to 500,000 square feet of office space.

“There will be very minimal onsite food and beverage [at the convention center hotel] so everyone from the hotel is encouraged to walk over to our main promenade,” Comras said.


Related Articles

arrow_forward_ios
Rendering of the Legacy Hotel & Residences and exam room (Legacy Hotel & Residences)
Lease roundup: Blue Zones to run Legacy Hotel & Residences health and wellness hub at Miami Worldcenter & more
Lease roundup: Blue Zones to run Legacy Hotel & Residences health and wellness hub at Miami Worldcenter & more
Robert Finvarb and Abraham “Abie” Hidary with the site at 2534 North Miami Avenue (Koniver Stern Group)
Hidrock Properties, Robert Finvarb pay $13M for Wynwood site
Hidrock Properties, Robert Finvarb pay $13M for Wynwood site
The current Miami Beach North Shore library with Mayor Dan Gelber (Google Maps, Gelber)
Miami Beach seeks buyers for city-owned development sites
Miami Beach seeks buyers for city-owned development sites
Developer David Edelstein and Robert Levine of RAL Development with the project (Getty, RAL)
David Edelstein, partner close on missing piece of Wynwood assemblage for office towers
David Edelstein, partner close on missing piece of Wynwood assemblage for office towers
David Grutman and Pharrell’s Goodtime Hotel had received nearly 30 noise violations (Carma Connected, Getty)
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Related Companies Chairman Stephen Ross with One Flagler (Related, Getty)
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Grover Corlew principal Mark Corlew with Bank of America Tower in Boca Raton (Grover Corlew)
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
The partially collapsed 12-story Champlain Towers South condo building (Getty)
Inside the tug-of-war over the Surfside condo site’s future
Inside the tug-of-war over the Surfside condo site’s future
arrow_forward_ios

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

Loading...