Miami's retail landscape has begun a seismic shift. Buoyed by Brazilians and other foreigners snapping up residential real estate faster than inventory becomes available, commercial property developers are eyeing every green space and vacant building and lot with a fervor not seen since the city’s prerecession boom. Lease expirations, mall expansions and new shopping centers and districts are resulting in unprecedented choices for stores and consumers alike.
“I feel very confident since Latin Americans, beyond Brazil’s new monied classes, are coming here in droves,” said Michael Comras, founder of the Comras Co., a real estate development and leasing firm in Miami Beach. “With Mexico so unsafe, and [Hugo] Chavez going in for another six years, they have to go somewhere, and Miami appears to be it.”
Rebranded with a new name, Web site and logo, the Miami Design District is attracting the most attention for its transition into a subtropical SoHo. The majority of its property is owned by Miami Design District Associates, a 50-50 partnership between Dacra, a Miami real estate development firm, and L Real Estate, a Luxembourg-based equity fund dedicated to real estate investments with luxury retail components, of which LVMH Moët Hennessy Louis Vuitton is a minority investor. MDDA plans to open 50 stores mixing LVMH and other luxury brands, 15 to 20 restaurants and a boutique hotel through 2014. Several stores such as Louis Vuitton, Cartier and Celine have already relocated from Bal Harbour Shops into temporary locations pending permanent spaces, while Prada, Dior Homme, Berluti, Pucci, Hermès and Agnona are slated to relocate or make their local debut by early next year. According to Dacra president and chief executive officer Craig Robins, LVMH brands will be scattered rather than housed under one roof. Some tenants such as Chrome Hearts bought property.
Though many home showrooms that pioneered gentrification will be outpriced, high-end companies such as Design Within Reach and Christian Liaigre are coming in. Since its original address is being gutted, Jonathan Adler moved to a 5,000-square-foot, two-story showroom, its largest worldwide, in the historic Moore Building. Robins reports the bulk of the Moore is intended for a department store, in addition to two new anchor spaces sized at 40,000 and 120,000 square feet.
Borrowing Bal Harbour’s lushness and intimacy, a charming pedestrian lane will link 38th and 42nd Streets, and shady mahogany and gumbo-limbo trees are part of new landscaping that includes rooftop gardens for private event venues.
“I compare the mix of categories and stores to a diverse ecosystem,” said Robins, who’s also building residences and offices to solidify his vision of a 21st-century micro city as a walkable, cultural hub. “Art will be interactive — for instance, visitors will come up through Buckminster Fuller’s Fly’s Eye dome to access the new South Plaza from a parking garage.”
Developer Robert Wennett, another proponent of “wow” design who commissioned Herzog & de Meuron for South Beach’s famous “parking garage” building, partnered with Comras to gentrify a portion of the area north of Lincoln Road to 17th Street nicknamed NoLi. Their proposal, under consideration by the City of Miami Beach, calls for pedestrian streets with Miami modern-style canopies, and parking garages with street retail in lieu of city-owned, surface parking lots.
“It provides a much-needed link between Lincoln Road and the Miami Beach Convention Center, which is also being redesigned,” said Comras.
Rem Koolhaas and John Portman are among names being tossed around for the MBCC. If accepted, Wennett and Comras’ proposal involves Snohetta, the Norwegian architecture firm behind Times Square’s pedestrian transformation and the 9/11 Museum pavilion, and landscape designer Raymond Jungles. Arquitectonica already designed an 18,000-square-foot building on 17th Street for Miami Beach developer Scott Robins, Craig’s brother.
“We felt so strongly about Lincoln Road’s thriving business that outpriced retailers will want to push north,” said Scott Robins of the single- or multiple-tenant property.
Comras reports an usually high turnover on Lincoln Road since a slew of five- and 10-year leases ended. H&M, Forever 21, Superdry, Lacoste, Custo Barcelona, Armani Jeans, John Vavartos, Fossil, Lush, Havaianas, Dylan’s Candy Bar and Alchemist boutique’s lifestyle expansion have or are opening, while Gap, Swatch and Swarovski are among those renovating, relocating and expanding for splashier statements. Reportedly, Zara and Urban Outfitters have selected spaces as well. He said rent per square foot starts at $175, compared with $85 to $140 on Collins Avenue.
High rents have squeezed out independent businesses, which are settling in Sunset Harbour, an industrial district in South Beach’s northwest corner. Aside from rents averaging $50 per square foot, retailers will get a boost from a pending bridge that connects the enclave formerly cut off by a canal to Lincoln Road’s action. It’s become a top locals’ destination for South Beach’s two main grocery stores, and hip restaurants and salons. Sunset Harbour Shoppes & Garage, another collaboration between Scott Robins and Arquitectonica with 60,000 square feet of retail space, specializes in homegrown tenants like Eberjey’s second freestanding lingerie and swimwear boutique, Sunset Clothing Co.’s premium denim and Panther Coffee, a popular hangout across the bay.
“My goal was to bring back beach residents who were driving to the mainland to eat and shop,” said Scott.
Swire Properties thinks Brickell residents desire better options in their own backyard, too. Its $1.05 billion, mixed-use Brickell CitiCentre gobbled up some of the last undeveloped land in the dense tower canyon. Of its 5.4 million square feet throughout nine acres, retail and entertainment encompasses 520,000 square feet. Approximately a fifth of that space is marked for an urban-sized department store. Everything except an office tower is scheduled for completion in 2015.
“That this area has three grocery stores clearly indicates need,” said Jolyon Culbertson, vice president of retail leasing.
Miami Downtown Development Authority reports the population has increased 80 percent since 2000 and projects 85,000 residents by 2015; condos are 95 percent occupied with eight additional high rises in a few years.
Swire plans 100 shops within Arquitectonica’s organic, open-air design featuring a high-tech, protective awning dubbed a Climate Ribbon that collects rain water for irrigation on top of its usual functions. Other local-minded amenities are a wellness center and public art and performance venues. A boutique hotel expands Swire’s regional hospitality portfolio that includes Mandarin Oriental Miami on Brickell Key.
“It makes sense that a city’s best shopping and services are in the center, which Miami lacked,” said Culbertson.
Still, some Wynwood Arts District residents and Midtown Miami hipsters aren’t too happy with a Wal-Mart Supercenter opening on North Miami Avenue and Northeast 30th Street in 2014. The retail giant is in the process of filing a Class II Special Permit Application for its first location in the urban core. Design departures from the usual format include street-level storefronts for other retailers and a multilevel parking garage.
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion
@longchamp, which marks its 70th anniversary this year, just opened its biggest U.S. store on Manhattan’s Fifth Avenue. On the lower level there’s a floor-to-ceiling display of the brand’s iconic Le Pliage bag – in all of its different colors, shapes and sizes. Customers can also have their product personalized in-store by imprinting names, initials or emblems. #wwdfashion (📷: @ericmtownsend)
“Whenever I’m in that place of sound and music, I don’t have fear or nervousness…This album has a lot of themes of courage and boldness and I want to be the soundtrack for people’s lives. I’ll be so happy if [my songs] evoke strength in people, which I know music has done for me,” says @kimbramusic of her newest album “Primal Heart.” The New Zealand-born singer sat down with WWD to talk about her music, newest tour and connecting with hear fans — read more on WWD.com #wwdeye (📷: @jilliansollazzo)
Luxury handbag resale company @rebagofficial is planning to sell a rare collectible for $70,000: the @hermes White Crocodile Himalayan Birkin. The exclusive Birkin sold for about $100,000 in 2008, when @davidbeckham bought one for his wife @victoriabeckham to add to her collection. Read more about the rare Birkin on WWD.com #wwdaccessories
With her costume pearl necklace and what-you-see-is-what-you-get style, Barbara Bush, who died Tuesday at age 92, was a straight-shooter from start to finish.
Born Barbara Pierce in New York City, Bush served as the 37th first lady, as well as the country’s second lady from 1981 to 1989. In addition to being part of the longest presidential marriage — 73 years — Bush also had the unlikely distinction of having one son, George W., become the 43rd president and another son, Jeb, run unsuccessfully in 2016. Having served as second lady during the Reagan administration’s two terms and lived all over the world during her own husband’s ascending political career, Barbara Bush made it clear that literacy — not fashion — was her priority. Read more from Rosemary Feitelberg’s obituary on the late First Lady in WWD.com, link in bio. #barbarabush #wwdnews
Western and ’90s trends have influenced denim for fall 2018. Think raw, dark and coated jeans mixed with bold prints and tough leather. #trendtuesdays #wwdfashion (Styled by @thealexbadia;📷: @ryanplett)