Lease roundup: Rihanna’s Savage X Fendy signs at Falcone, and more
Other trendy retailers including Lululemon and Ray-Ban leased at Miami Worldcenter
The retail and the financial sector have been front and center of Miami’s leasing action as of late.
Here’s a rundown of some of the most notable newly signed contracts:
Savage X Fenty, Lululemon, Ray-Ban, Posman Books I Miami Worldcenter
The apparel and innerwear retailer will open its first Florida location in
3,000 square feet at the project’s completed Paramount condominium tower, according to a Miami Worldcenter news release.
Lululemon took 3,800 square feet and Ray-Ban took 2,000 square feet, both along the pedestrian promenade at Northeast Seventh Street and the World Square Plaza. Posman Books, an indie bookstore, took 2,000 square feet along the World Promenade at the base of the Paramount tower.
The shops are expected to open next year.
The master developers of the 27-acre, $4 billion Miami Worldcenter are Art Falcone and Nitin Motwani, in partnership with CIM Group.
CIM and Michael Comras’ Comras Company are leading retail leasing at the development.
Completed portions of the project include the Caoba and Bezel Miami apartment towers, and 175,000 square feet of retail. Miami Worldcenter projects under development are the 351-key citizenM hotel, which is expected to open by year’s end; 125,000 square feet of retail space; the 52-story Miami World Towers, which will have apartments; the 50-story Legacy Hotel & Residences with 310 condos and 50,000 square feet of medical offices; and a second Caoba tower that will rise 40 stories and have 420 apartments.
Additional towers are planned. They include Related Group and Merrimac Ventures’ 450-unit The Crosby condo, Naftali Group’s pair of supertalls, and Witkoff Group’s pair of supertalls.
Yoyoso, Salt & Straw, More I Lincoln Road I Miami Beach
Miami Beach’s famous pedestrian street Lincoln Road has scored several new tenants.
Chinese fast fashion and leisure department store Yoyoso opened its third U.S. location in a 5,600-square-foot space at 1119 Lincoln Road, according to a news release. The retailer, founded in 2014 by Huan MA, has 1,000 stores globally, including in New York and New Jersey.
The Yoyoso outpost in Miami Beach is part of the 1111 Lincoln mixed-use garage, which CBRE Global Investors and German investment firm Universal-Investment bought in 2017 for $283 million. The deal included adjacent property.
Oregon-based Ice cream shop Salt & Straw signed a seven-year lease for 1,500 square feet of space at 749 Lincoln Road, according to a release from the property owner. Stephen Bittel’s Terranova Corporation owns the two-story building.
Salt & Straw already has locations in Miami’s Wynwood and Coconut Grove neighborhoods.
Others who recently opened on Lincoln are women’s retailer Mango, which took 4,600 square feet at 1036 Lincoln Road, and furniture and home décor store West Elm, which took 10,000 square feet at 1691 Michigan Avenue.
Others on tap are: Louise James Boutique at 811 Lincoln Road, Express Edit at 904 Lincoln Road, Cheesecake Factory at 600 Lincoln Road, Tacombi at 1688 Meridian Avenue and Andres Carne de Res at 455 Lincoln Road.
Amped Fitness I The Press I West Palm Beach
Amped Fitness leased 36,000 square feet at Shops at The Press, the retail portion of the project arising from the redevelopment of the Palm Beach Post campus, according to a Tricera release. The gym will anchor the western portion of the 120,000-square-foot Shops at The Press, and Joseph’s Classic Market will open in November as the property’s eastern end anchor.
Jennifer Houston of Tricera’s leasing team closed the Amped deal.
The Miami-based Tricera is redeveloping the newspaper’s campus at 2751 South Dixie Highway by turning the printing press and distribution facility into the retail piece of the project and the existing office building into Workspaces at the Press.
The Amped Fitness deal comes on the heels of a slew of deals at The Press in August. At the time, four tenants signed leases at the Shops at The Press, and two tenants signed new deals and a third renewed at Workspaces at the Press.
Puttshack, Rhone I Brickell City Centre
Mini golf venue Puttshack opened its fourth U.S. location at Brickell City Centre.
Puttshack leased 27,000 square feet at 701 South Miami Avenue, according to a news release from the tenant. The space includes an outdoor terrace with seating capacity for 96 people, a trio of nine-hole mini golf courses, food and beverage offerings and event space.
Additionally, men’s apparel store Rhone announced it will open in a 1,500-square-foot space, also at 701 South Miami Avenue in Suite 159-B. The grand opening will be from Nov. 4-6.
Swire Properties developed the mixed-use Brickell City Centre. More recently, Swire partnered with Stephen Ross’ Related Companies on plans for a 1,000-foot tall office tower at the complex that will aim to capture the South Florida company influx. Construction of the One Brickell City Centre tower is expected to start next year.
Santander Bank I 830 Brickell
Santander Bank is the latest in a long list of tenants that took space at the 830 Brickell office tower.
The bank is a subsidiary of Span’s Santander Group. It leased 95,000 square feet at the still-under-construction tower.
Vlad Doronin’s OKO Group and Jonathan Goldstein’s Cain International are developing the 57-story building.
Among the tenants that have leased space at 830 Brickell are billionaire hedge funder Ken Griffin’s Citadel, which along with his Citadel Securities is moving its headquarters from Chicago to Brickell. The 830 Brickell office is needed until the shift to a permanent headquarters is completed. Griffin has retained Sterling Bay to build out the space in a bayfront site at 1201 Brickell Bay Drive, which he purchased in a record $363 million in April.