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OFFERING SUMMARY
MIAMI BEACH, FL 33139
RARE COLLINS AVENUE OFFERING WITH REDEVELOPMENT POTENTIAL
PROPERTY SUMMARY
FAR ZONING
MXE
YEAR BUILT
1934
BUILDING GLA
9,400 SF
SITE AREA
7,000 SF ±0.16 acres
STORIES
2
ADDRESS
800 COLLINS AVEFLORIDA 33139
Cushman & Wakefield of Florida, LLC is pleased to offer for sale 800 Collins, an iconic 9,400 sf two-story, mixed-use building ideally situated in the heart of Miami Beach’s famed Collins Avenue Fashion District. Located on a hard corner at the “main-and-main” intersection of Collins Avenue and 8th Street amongst a cluster of more than two dozen trendy high street retailers and boutique hotels, the exceptional location is also just one block from both Ocean Drive’s sandy beaches and Washington Avenue’s wave of transformative redevelopment to the east and west, respectively.
Most recently upgraded for retail uses, the vacant historic property’s well-maintained physical plant, tremendous foot traffic and favorable MXE zoning offer a canvas for a myriad of mixed use redevelopment strategies, including retail, office, hospitality and residential.
OFFERING INTRODUCTION
2.0This offering represents a rare opportunity to acquire and reposition irreplaceable real estate to create value in one the world’s premier beach destinations for fashion, dining and entertainment.
POTENTIAL REDEVELOPMENT
14,000 SF
Cushman & Wakefield | 800 Collins Ave 2
Cushman & Wakefield | 800 Collins Ave 3
• Rare opportunity to own a trophy boutique asset in the high-barrier-to-entry, global destination of South Beach
• Hard corner, “main-and-main” location with tremendous foot traffic in the heart of the Collins Avenue Fashion District, home to more than two dozen retailers including H&M, Sephora, Adidas
• Favorably MXE zoning allows for a mixture of uses including retail, office, restaurant, residential, and hospitality
• Well maintained, modernized physical plant, with efficient floor plans that can be easily subdivided
• Walkable “live-work-play” location (rated Walker’s Paradise), proximate to beaches, nationally acclaimed restaurants, shopping, ultra-luxury condominiums, nightlife, hotels and parks
• Strong leasing history, including Banana Republic most recently
• Unrivaled tourism market in Miami Beach, which welcomes nearly 16M annual visitors to its beaches and world class events such as Art Basel, South Beach Food & Wine Festival, Miami Beach International Fashion Week, and Winter Music Conference
• Positive impact from more than 50 projects (planned or under construction) in Miami Beach, including:
• $620M Convention Center renovation/expansion and recently approved 800 room hotel
• Washington Avenue Business Improvement District (BID) established between Fifth & 17th Streets
EXECUTIVE SUMMARY
INVESTMENT HIGHLIGHTS
Cushman & Wakefield | 800 Collins Ave 4
Was
hing
ton
Ave
.
Co
llins Ave.
Lincoln Rd.
Ocean D
r.
5th St.
TOTALVISITORS*
15.9 MMHOTEL ROOMS(66 HOTELS)
1 MILE RADIUS
7,564TOTAL VISITOR
SPENDING*
$26 BTOTAL
POPULATION
2.8 MMRETAIL SALES
(MIAMI)*
$55 B
12 MONTH POPULATION
GROWTH
0.8%CRUISE SHIP
PORT IN THE WORLD(5.3MM PASSENGERS)
# 1$69,000HOUSEHOLD
INCOMEANNUAL AVERAGE
HOTEL OCCUPANCY*
78%
* Source: Miami Visitor and Convention Bureau
MIAMI BEACH AT A GLANCE
8th St.
Cushman & Wakefield | 800 Collins Ave 5
THE COLONY HOTEL
THE PELICAN CAFE
THE HOTEL
LUMMUS PARK
THE CLEVELANDER BAR
HOTEL VICTOR
GIANNI VERSACE MANSION
THE TIDES SOUTH BEACH
MANGO’S TROPICAL CAFE
NEWS CAFE
THE WOLFSONIAN
THE MOXY HOTEL
COLLINS AVE.
WASHINGTON AVE.
8TH ST.
Cushman & Wakefield | 800 Collins Ave 6
COLLINS AVE.OCEA
N D
R.
WASHINGTON AVE.
MACARTHUR CAUSEWAYFISHER ISLAND
VIRGINIA KEY
PORT MIAMI
MIAMIKEY BISCAYNE
KIMPTON ANGLER’S HOTEL
WASHINGTON SQUARED HOTEL
PARK ON FIFTH
THE SAVOY HOTEL
COLLINS AVE RETAIL CORRIDOR
Cushman & Wakefield | 800 Collins Ave 7
LINCOLN ROAD0.9 MILES / 7 MINUTES 1.2 MILES / 8 MINUTES
THE FILLMORE MIAMI BEACH CONVENTION CENTER1.4 MILES / 9 MINUTES
ONE BLOCKWASHINGTON AVE OCEAN DRIVE/BEACH
ONE BLOCK
§̈¦195
UVA1A
UV907
UVA1A
UVA1A
Biscayne Bay
Sun
set L
ake
Atlantic OceanFisher Island Fry
N
Lincoln Road
Sunset Harbour
Co
llins
Ave
nue
(Fas
hio
n D
istr
ict)
MacArthur Causeway
Oce
an D
rive
South Pointe Park
EXECUTIVE SUMMARY
LOCATION HIGHLIGHTS
NEARBY POINTS OF INTEREST
Fisher Island
AN UNRIVALED TOURISM MARKET
7.8M Total International Visitors
#1 Hottest Area in Miami-Dade
#3 Most Visited City in the US by Overseas Travelers
Alt
on
Ro
ad
Even as many of Miami’s emerging urban neighborhoods on the mainland receive considerable investment and attention, Miami Beach’s unique coastal allure continues to attract significant investment from developers around the world. There are more than 50 projects currently proposed or under construction in Miami Beach, including the following notable developments, which will continue to attract businesses, permanent and seasonal residents, and tourists, and further elevate its status as a world class city.
• The three-year, $620M Miami Beach Convention Center renovation and expansion is slated to be completed by the end of 2018, expanding the Convention Center to 1.4M SF and including 12 acres of public green space, four new ballrooms ranging from 10,000 square feet to 60,000 square feet, 127,000 square feet of new meeting space, and a 500,000-square-foot exhibition hall.
• A recently approved 185-foot-tall, 800-room Miami beach Convention Center hotel, developed by a partnership between Terra Group and Turnberry Associates, will greatly expand the available hotel rooms connected to the Convention Center, which generates an economic impact of almost $2BN annually.
• In April 2018, the City of Miami Beach approved a resolution designating the stretch of Washington Avenue from Fifth to 17th streets as the Washington Avenue Business Improvement District (BID), which will be active for 10 years and will create a tax fund for improvement and beautification projects. This designation has already drawn interest from developers, including Washington Squared’s seven-story, 312 room hotel with 47,000 SF of retail and Lightstone Group’s 202-room Moxy Hotel.
• Lincoln Road is currently undergoing a $47M renovation project led by James Corner of Field Operations (the New York landscape architectural firm responsible for the High Line in New York City) that will enhance the shopping and dining experience by upgrading infrastructure and organizing space along with revising the entrance to Lincoln Road from Washington Avenue.
• Other notable developments in Miami Beach include: Crescent Height’s proposed 44 story, 410 unit residential condo project and urban park at 500 Alton, Baptist Health Primary Care’s 122,000 SF Urgent Care Center, Comras’ proposed BLVD at Lenox, a 33,000 SF, Target-anchored vertical retail project and Roca Group’s proposed five-story, 27,000 SF hotel.
Miami Beach Convention Center
Lincoln Road Renovation
Miami Beach Convention Center Hotel
EXECUTIVE SUMMARY
DEVELOPMENT HIGHLIGHTS
Cushman & Wakefield | 800 Collins Ave 8
ASSET OVERVIEW
INTERIOR PHOTOS
Cushman & Wakefield | 800 Collins Ave 9
Second Floor
Second Floor First Floor
ASSET OVERVIEW
SITE PLAN
Cushman & Wakefield | 800 Collins Ave 10
Exist R.R120 SF
Exist ExitStair
110 SFRetail 1Storage86 SF
Retail 1Entry
Retail 41,011 SF
Retail 4Entry
ExistingElevator
Storage67 SF
ElevatorLobbyCirculation
145 SF
Access ToSecond Floor
Retail 3Entry
Retail 2Entry
Retail 1Entry
Retail 3590 SF
Stair 2
Retail 2671SF
Retail 11,457SF
Second Floor ExitTo Alley
Circulation157 SF
ExistR.R
39 SF
ExistOffice73 SF
B.O.H101 SF
Exi
stin
g E
xit
To A
lley
Way
Existing ExitTo B.BT
Circulation398 SF
Men’s Bathroom97 SF
Women’s Bathroom89 SF
Office Space3,786 SF
Stair 2
ExistingElevator
M.E.P103 SF
Exist ExitStair
110 SF
ASSET OVERVIEW
FLOOR PLAN OPTION 1
Fir
st F
loo
rS
eco
nd F
loo
r
Cushman & Wakefield | 800 Collins Ave 11
Exist R.R120 SF
Exist ExitStair
110 SF Retail 1StorageStair 2
Retail 1Entry
ExistingElevator
Storage67 SF
Elevator LobbyCirculation
145 SF
Access ToSecond Floor
MainEntry
Retail 1Service Entry
1,629 SFRetail 2
Retail 12,247 SF
Secong Floor ExitTo Alley
Circulation157 SF
ExistR.R
39 SF
ExistOffice73 AF
B.O.H101 SF
Retail 2Service Entry
Exi
stin
g E
xit
To A
lley
Way
Existing ExitTo B.BT
Circulation178 SF
Men’s Bathroom97 SF
Women’s Bathroom89 SF
Office Space 12,013 SFOffice Space 2
1,235 SF
Stair 2
ExistingElevator
Exist ExitStair
110 SF
M.E.P103 SF
Circulation278 SF
ASSET OVERVIEW
FLOOR PLAN OPTION 2
Fir
st F
loo
rS
eco
nd F
loo
r
Cushman & Wakefield | 800 Collins Ave 12
©2018 Cushman & Wakefield. All rights reserved. The material in this presentation has been prepared solely for information purposes, and is strictly confidential. Any disclosure, use, copying or circulation of this presentation (or the information contained within it) is strictly prohibited, unless you have obtained Cushman & Wakefield’s prior written consent. The views expressed in this presentation are the views of the author and do not necessarily reflect the views of Cushman & Wakefield. Neither this presentation nor any part of it shall form the basis of, or be relied upon in connection with any offer, or act as an inducement to enter into any contract or commitment whatsoever. NO REPRESENTATION OR WARRANTY IS GIVEN, EXPRESS OR IMPLIED, AS TO THE ACCURACY OF THE INFORMATION CONTAINED WITHIN THIS PRESENTATION, AND CUSHMAN & WAKEFIELD IS UNDER NO OBLIGATION TO SUBSEQUENTLY CORRECT IT IN THE EVENT OF ERRORS.
FOR MORE INFORMATION, PLEASE CONTACT: Cushman & Wakefield Retail Investment Advisors
DOMINIC MONTAZEMIManaging [email protected] 533 2850
MIGUEL ALCIVAR [email protected] 533 2871
MIKE [email protected] 377 0469
JASON HOCHMANSenior [email protected]
305 533 2876
FRANK [email protected]
305 533 2874
MARK GILBERT Executive Managing [email protected] 533 2866
INVESTMENT SALES LEASING FINANCING
