FOR LEASE: RETAIL NEXT TO MERRICK PARK THE HENRY · 2018. 6. 13. · Home & Housewares Accessories Fashion Other CORAL GABLES DEMOGRAPHICS Y. 4015-4131 LAGUNA ST CORAL GABLES, FL

Myles [email protected]

FOR LEASE: RETAIL NEXT TO MERRICK PARK

THE HENRYPartnership. Performance.

4015 - 4131 LAGUNA STCORAL GABLES, FL

PREMIER RETAIL SPACE IN CORAL GABLES

Avison Young is pleased to present 9,176 sf of prime retail real estate at “The Henry”, a multi-story mixed-use building presently under contract. 4015-4131 Laguna Street is the perfect location for any retail space because of its excellent frontage to two of Coral Gables’ most traveled arteries, Bird Rd and LeJeune Rd, which yield ±42,500 and ±36,000 passing cars daily.

With Coral Gables being a destination for high-end shoppers and restaurateurs, the property provides a unique marketing opportunity. The Henry possesses a blend of property and market specific dynamics which combine to create the foundation for a successful retail project.

The property is expected to be completed Summer of 2019.

Ample Parking Available to Retail | Over 80 Spaces

4015-4131 LAGUNA STCORAL GABLES, FL

EST. POPULATION (2017)

52,127

PROJ. POPULATION (2022)

54,423EST. HOUSEHOLDS

(2022)

20,076EST. AVG HOUSEHOLD

INCOME (2022)

$160,782

EST. FOOD & BERAGE EXPENDITURES (2017)

$279MADJ. DAYTIME DEMOS

AGE 16+ (2017)

70,759EST. TOTAL EMPLOYEES

(2017)

53,230

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62 7271

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7778

97Fitness

Restaurant

Department Store

Shoes

Health & Beauty

Home & Housewares

Accessories

Fashion

Other

CORAL GABLES DEMOGRAPHICS

SUBJECT PROPERTY


Site Plan

PROPERTY OVERVIEW

Address 4015- 4131 Laguna StreetCoral Gables, FL 33146

GBA 152,212 sf

Retail SF 9,176 sf

Estimated Delivery Q3 2019

Building Type Class A Multi-Family

2,688 sf$45 NNN

2,155 sf$43 NNN

3,676 sf$45 NNN

Estimated Operating Expenses - $13

1,000 sf$50 NNN

Coral Gables continues to be a destination for high-end shoppers and restaurateurs. The downtown area is home to the famous Miracle Mile, countless specialty shops and over 120 international restaurants. With European-style outdoor cafes located on every other block, residents, professionals and visitors get to appreciate the enjoyable tropical shopping experience.

The Coral Gables Central Business District (“CBD”) is currently undergoing two significant streetscape improvement projects that are expected to create an even more welcoming environment for pedestrians and shoppers. Miracle Mile is having its sidewalks widened to accommodate more outdoor seating for cafés, as well as provide addtional space for pedestrians and greenery. Giralda Avenue is being rebuilt into a curbless

European design to better accommodate the multiple restaurants and special events that take place on this restaurant row.

Occupancy rates in Coral Gables have remained near full since 2014, hovering between 96% and 99%. Net absorption has also increased significantly, growing by over 34,000 square feet since 2015. As of the fourth quarter of 2017, (NNN) rents are averaging $42.74 per square foot. This rate comfortably surpasses the previous peak of $40 per square foot in 2015.

M A R K E T C H A R T S

95.0%

96.0%

97.0%

98.0%

99.0%

100.0%

-40

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160

2013 2014 2015 2016 2017 Q1

Thou

sand

s of

SF

Coral Gables SubmarketSupply & Demand, 2013 - Present

New Delivery (SF) LHS Under Construction (SF) LHS

Net Absorption (SF) Occupancy (%)

95.0%

96.0%

97.0%

98.0%

99.0%

100.0%

$20

$25

$30

$35

$40

$45

2013 2014 2015 2016 2017 Q1

Coral Gables SubmarketRental Rates & Occupancy, 2013 - Present

Rental Rates ($/SF) LHS Occupancy (%) RHS

CO R A L G A B L E S R E TA I L M A R K E T



Coral Gables Trolley Transportation

Transportation on the Coral Gables Trolley is a free service provided by the City of Coral Gables with assistance from the Miami-Dade County Half Penny Transportation Surtax, the Florida Department of Transportation, and the Metropolitan Planning Organization.

The North/South Ponce de Leon Boulevard Route runs along Ponce de Leon Boulevard from the Douglas Metrorail Station to Flagler Street. This service runs every 10 to 12 minutes from Monday-Friday: 6:30 a.m. - 8 p.m., except the first Friday of the month when it runs until 10 p.m.

In 2016, the Coral Gables Trolley began a new service with the Grand Avenue Loop. The new route begins at the Douglas Metrorail Station leaving Southbound on Douglas, Westbound on Grand Avenue, North on LeJeune Road and then it travels East on Granello back to Douglas Station. Passengers will be able to transfer to Trolleys going to Downtown Coral Gables at the Metrorail Station. Service is expected to be every 12 – 15 minutes from 6:30 am to 8:00 pm., Monday-Friday.

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Trolley Stops & Route

Municipal Parking Garage

Miami-Dade Transit Metrobus RoutesVisit www.miamidade.gov/transit

for detailed Metrobus routes and stops

Miami-Dade Metrorail StationTransfer from the Trolley to the Metrorail to

travel to the Miami International Airport,Downtown Miami, University of Miami,

Coconut Grove, South Miami or Kendall/Dadeland.

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For more information on theCoral Gables Trolley visit

www.coralgables.com or contact us via phone at 305-460-5070 or E-mail at

[email protected]

City Hall General Inquiries: 305-446-6800

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Funding for this program is possible thanks to the Miami-Dade County Half Penny Transportation Surtax, the Florida Department of Transportation and the Metropolitan Planning Organization.

Coral GablesTrolley Route& Points of Interest

Monday - Friday, 6:30 a.m. - 8 p.m.First Friday of the Month

is Gallery Night. Ride until 10 p.m.

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Rotary Centenial Park

Freedom Plaza

Coral Gables Woman’s Club

Ponce De Leon Park

Phillips Park

Hotel Place St. Michel

Alhambra Plaza

Hyatt Regency Hotel

Coral Gables Museum

Books & Books

Coral Gables Art Cinema

Westin Colonnade Hotel

Coral Gables City Hall

Miracle Mile Shops

Merrick Park

Miracle Theater

Coral Gables Police Department

Fred B. Hartnett / Ponce Circle Park

Coral Gables War Memorial Youth Center

French Normandy Village

Coral Gables Senior High School

Village of Merrick Park Shopping

Coral Gables Hospital

Douglas Park (Miami-Dade Park)

Coral Gables Elementary School

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[email protected]


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Freedom Plaza


Ponce De Leon Park

Phillips Park


Alhambra Plaza

Hyatt Regency Hotel

Coral Gables Museum

Books & Books




Miracle Mile Shops

Merrick Park

Miracle Theater










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23

24

25

8th street

andalusia

40th street

15

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way /

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w flagler st

le jeun

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ad / 42

nd a

venu

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alhambra circle

coral way

bird road

antiguera

calabria

santillane

Phoenetia

antilla

sidonia

salamanca

menores

mendoza

zamora

madeira

majorca

navarre

minorca

alcazar

giralda

aragon

valencia

almeria

sevilla

Palermo

catalonia

malaga

santander

san sebastian

romano

sarto

camilo

aledo

cadima

alesio

viscaya

fluvia

candia

velarde

altara

san lorenzo

greco

n

unive

rsity

drive

1st street

avila

camPiña

boabadilla

cibao

fonseca

carmona

marabella

alcantarra

montilla

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miracle mile

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The Henry

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[email protected]


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P

P

P

P

P


Freedom Plaza


Ponce De Leon Park

Phillips Park


Alhambra Plaza

Hyatt Regency Hotel

Coral Gables Museum

Books & Books




Miracle Mile Shops

Merrick Park

Miracle Theater










P

23

24

25

8th street

andalusia

40th street

15

14

sout

h dixi

e high

way /

us1

500

136

249

w flagler st

le jeun

e ro

ad / 42

nd a

venu

e

alhambra circle

coral way

bird road

antiguera

calabria

santillane

Phoenetia

antilla

sidonia

salamanca

menores

mendoza

zamora

madeira

majorca

navarre

minorca

alcazar

giralda

aragon

valencia

almeria

sevilla

Palermo

catalonia

malaga

santander

san sebastian

romano

sarto

camilo

aledo

cadima

alesio

viscaya

fluvia

candia

velarde

altara

san lorenzo

greco

n

unive

rsity

drive

1st street

avila

camPiña

boabadilla

cibao

fonseca

carmona

marabella

alcantarra

montilla

veragua

oviedo

salzed

o street

ga

lian

o street

Pon

ce d

e leon b

ou

levar

d

university

of miami

miami

interna

tional

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mi

key b

isca

yne

metr

orail

biltm

or

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otel

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las r

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venu

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florida

international

university

coconut grove

miracle mile

biltm

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Rotary Centennial Park

2019 Projected Market

TOTAL UNITS / SF

Multi-family Units 1,806 units

# of Hotel Units 398 units

SF of Retail 232,241 SF

SUBJECT PROPERTY


Myles [email protected]


Project Renderings

HALLWAY

LIBRARY

LOBBY

Documents

FOR LEASE: RETAIL NEXT TO MERRICK PARK THE HENRY · 2018. 6. 13. · Home & Housewares Accessories Fashion Other CORAL GABLES DEMOGRAPHICS Y. 4015-4131 LAGUNA ST CORAL GABLES, FL