New tenants announced for Miami Beach’s West Avenue
Comparable rents are in the $60 per square foot, triple-net range
February 25, 2016 12:45PMBy Katherine Kallergis
A rendering of Southgate Towers and the Daily at the Shoppes of West Avenue
The Daily Creative Food Co. has opened its second location in South Beach with more retailers slated to open nearby.
Comras Company is handling leasing for the Shoppes of West Avenue, where the Daily is a tenant, as well as the retail space across the street at Southgate Towers, a newly renovated apartment complex. Michael Silverman, senior associate at Comras, said European Wax Center has also opened in a 1,650-square-foot space at the Shoppes, at 959 West Avenue. Raw Juice is also in the process of building out its store in a roughly 1,000-square-foot space at the building.
The Daily, which also operates at 2001 Biscayne Boulevard in Miami, is leasing about 3,600 square feet, Silverman told The Real Deal. He declined to disclose specific lease rates, but said comparable rents are in the $60 per square foot, triple-net range.
At Southgate Towers, 900 West Avenue, Comras inked leases with the Cheese Course and Maham Yoga. The Cheese Course, which has locations in downtown Miami, Midtown, Pinecrest, Aventura, Plantation, Weston and Coral Springs, is leasing 1,500 square feet at Southgate. The yoga concept will take 2,400 square feet, Silverman said.
Silverman said Sunset Harbour was, at a time, competition. He cited the neighborhood’s growing pains related to changing road elevations and “rents going up aggressively.”
A 4,300-square-foot restaurant space is still available at Southgate, Silverman told TRD. The asking rent is $65 per square foot, triple-net.
Source: The Real Deal