July 29, 2014
Miami’s leading forward-thinking full-service real estate organization, is pleased to announce it recently brokered two retail lease agreements in Miami’s tony Design District neighborhood, totaling more than 10,000 square feet.
Two international fashion retailers, Theory and Helmut Lang, inked a long-term lease for the 5,000-square-foot corner retail building located at 101 NE 40th Street. Theory and Helmut Lang will join neighboring international retail brands who have recently opened their doors in the popular shopping destination, including Christian Louboutin, Louis Vuitton, Christian Dior, Fendi, Bulgari, Emilio Pucci, De Beers, Marc by Marc Jacobs, Hermes, Ermenegildo Zegna, and Burberry. The lease agreement took effect on July 4, 2014. The landlord, Century 21 Department Stores, was represented by Metro 1 Commercial and Whitehall Realty Advisors.
Metro 1 also recently arranged the lease of 5,500 square feet of retail space at 3800 North Miami Avenue to Natuzzi Italia. The upscale Italian home furnishings brand will join Mitchell Gold + Bob Williams in December upon the retail development’s completion. Together, the two retail spaces total an impressive 16,000 square feet that Metro 1 was able to pre-lease for the property’s landlord.
“The fundamentals of high fashion and design are filling in the Design District,” said Metro 1 Commercial Vice President of Sales Tony Arellano who handled all three lease negotiations. “This is truly becoming Miami’s SoHo, attracting tenants, investors and developers from around the world.”
Having completed more than $550 million in sales transactions, with 450+ deals for more than 2.5 million square feet in the last 3 years alone, Metro 1 is committed to Miami’s infill and Urban Core neighborhoods including the Design District, Wynwood, the Arts & Entertainment District, Downtown Miami, the Little River District, Edgewater, the Upper Eastside and Sunset Harbour.