South Florida Retail Leasing Remains Robust

Posted on September 20, 2018

The South Florida retail market continued to be healthy, according to a list of the latest leases from MMG Equity Partners. The report showed rent growth remained strong in all areas with stable overall vacancy rates.
“Both Miami-Dade and Broward saw positive absorption, as both tenants and landlords compete vigorously for some of the prime boxes being vacated by the Toys R Us’ of the world,” said principal Gabriel Navarro,

A large number of leases represented health and fitness companies.

Recent leases of around 20,000 square feet included LA Fitness, taking 40,000 square feet in South Dade and Planet Fitness, leasing 19,700 square feet at 19101 S. Dixie Highway in South Dade. Other leases exceeding 20,000 square feet included Target at 1045 5th Street in Miami Beach with 33,503 square feet, Ross (26,100 square feet) at 18403 S. Dixie Highway in South Dade, DD’s Discount at 3505 NW 20 Ave. in Hialeah with 23,423 square feet, and Aldi’s with 21,850 square feet at 12755 SW 88 St. in Kendall.