Coconut Grove: Riding the Wave of New Retail and Office Demand
Michael Comras shares his insight on how an attractive retail mix can transform a neighborhood. His immediate focus is Miami's Coconut Grove.
July 02, 2018 at 04:49 PM
2 minute read
The development group has started demolition work and construction on the next phase of CocoWalk's redevelopment into a mixed-use complex. Demolition is under way on the east side, which will make way for the 85,000-square-foot, five-story One CocoWalk office building and 20,000-square-feet of street level retail space. The demolition follows the start of a large-scale remodeling of the property's west side. The completed project, totaling 250,000 square feet of commercial space, is expected to be delivered in late 2019.
Tell us about the latest retail brands to ink leases in Coconut Grove and why are they finding the historic neighborhood attractive compared to other Miami destinations? Why is the Grove experiencing a growth in the number of chef-driven concepts and national and international food concepts opening up? CocoWalk is undergoing a multimillion-dollar renovation and expansion, and you are a part-owner of the JV. What are the types of retail tenants you're looking to attract and why did the lifestyle center decide to add an office building? Coconut Grove hasn't seen a new office building in 30 years and now, three office projects are underway. Is there sufficient demand for the amount of office space coming online in the near future? The reinvention of the Grove has been taking shape for the past several years. What role is the Coconut Grove Business Improvement District playing in this transformation? John Jordan reports for GlobeSt.com.
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