Brookfield seeks to evict Diane Von Furstenberg at Merrick Park

The company says the retailer owes $206K in unpaid rent

Miami /
Jul.July 01, 2020 09:45 AM
Diane Von Furstenberg, Brookfield Properties Bruce Flatt, and the DVF store in the Shops at Merrick Park (Getty, Google Maps)

Diane Von Furstenberg, Brookfield Properties Bruce Flatt, and the DVF store in the Shops at Merrick Park (Getty, Google Maps)

A company tied to Brookfield Properties alleges the Diane Von Furstenberg store owes over $200,000 in unpaid rent at Shops at Merrick Park, and is seeking to evict the retailer.

Merrick Park LLC, tied to Brookfield Properties, is suing the retailer for breach of its lease agreement, alleging the company owes $206,000 in unpaid rent as of June. In the suit filed last week in Miami-Dade Circuit Court, Brookfield said it could accelerate the balance of the rent for the three years remaining on the lease.

On June 16, Brookfield sent DVF a notice to evict the retailer if it did not pay within three business days, according to the suit. The eviction letter said the “landlord’s acceptance of possession of the leased premises shall in no way be deemed a termination of the lease nor an acceptance of surrender,” and that it should not be deemed a waiver of the landlord’s right to collect all the money due under the lease.

DVF did not immediately respond to a request for comment. The store at 320 Lorenzo Avenue in Coral Gables remains open.

DVF signed a 10-year lease at Shops at Merrick Park in 2013. In June, the company was obligated to pay a minimum of $25,459 per month to lease 2,326 square feet of space, according to the lease agreement.

Merrick Park, a high-end shopping center in Coral Gables, is anchored by Neiman Marcus and Nordstrom. The 742,481-square-foot center also features luxury brands such as CH Carolina Herrera, Gucci, Jimmy Choo, and Tiffany & Co. It was previously owned by General Growth Properties, which was acquired by Brookfield in 2018 for $14.8 billion.

The lawsuit joins other retail eviction suits filed in South Florida during the pandemic. Last month, Sam Herzberg sued to evict Diesel USA and Perry Ellis’ Original Penguin from the Sterling Building on Lincoln Road for failing to pay rent in April and May.

In May, Berkowitz Development Group sued Petsmart to evict the pet store chain from stores at Dadeland Station and Aventura Commons.

Brookfied in May said it planned to inject $5 billion into major retail companies hit hard by the pandemic. Yet, the Financial Times last week reported that Brookfield is forcing smaller retailers to pay thousands of dollars in rent on locations that had to shut down due to the pandemic, while at the same time skipping payments on its mortgages and asking lenders for forbearance.


Related Articles

arrow_forward_ios
R & B Realty’s Shelby Rosenberg and The Gateway at Wynwood (R & B Realty Group, iStock)
Lease roundup: The Gateway at Wynwood scores three new tenants
Lease roundup: The Gateway at Wynwood scores three new tenants
The Minorca condominium at 2030 Douglas Road in Coral Gables (iStock, CBRE, Illustration by Kevin Rebong for The Real Deal)
Ex-Venezuelan official tied to $1B fraud gets 4+ years, must forfeit Coral Gables condo
Ex-Venezuelan official tied to $1B fraud gets 4+ years, must forfeit Coral Gables condo
Centro Miami
Harvey Hernandez sells Centro Miami units for $3M, avoiding foreclosure
Harvey Hernandez sells Centro Miami units for $3M, avoiding foreclosure
Mayor Shlomo Danzinger and a rendering of Fort Partners’ Hillcrest by the Sea (Facebook, iStock, rendering by O' Donnell Dannwolf & Partners Architects)
Town of Surfside sued after approving project next to aging condo building
Town of Surfside sued after approving project next to aging condo building
(left to right) Nuveen's Mike Nuveen with 800 Waterford Way and Pebb Enterprises' Ian Weiner with 5355 Town Center Road (CoStar, Nuveen, TVS Design, Pebb)
Lease roundup: Nuveen nabs fintech tenant in Miami, Brookfield scores 20 leases at Boca’s Mizner Park
Lease roundup: Nuveen nabs fintech tenant in Miami, Brookfield scores 20 leases at Boca’s Mizner Park
Shoppes at City Centre at 11201-11261 U.S. Highway 1 in North Palm Beach (Marcus & Millichap)
Ferreira family buys grocery-anchored North Palm Beach shopping center for $36M
Ferreira family buys grocery-anchored North Palm Beach shopping center for $36M
The lot where the Champlain Towers South once stood with Terra's David Martin, John Moriarty & Associates president John Moriarty, Davide Bizzi of Bizzi & Partners (Terra, Moriarty & Associates, Getty, RisMedia)
$1B Surfside settlement signals condo association, construction insurance premium hikes
$1B Surfside settlement signals condo association, construction insurance premium hikes
Michael Shvo along with an aerial view of his newly-acquired retail properties between 16th and 17th Streets along Alton Road in Miami Beach (Google Maps, SSHaving, CC BY-SA 4.0 - via Wikimedia Commons)
Michael Shvo buys ex-Epicure South Beach site with plans for retail-office redevelopment
Michael Shvo buys ex-Epicure South Beach site with plans for retail-office redevelopment
arrow_forward_ios

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

Loading...