More national tenants are setting up shop on the banks of the Miami River. And neighborhood experts say it’s partly thanks to the neighboring Health District. Chick-Fil-A and Old Navy signed leases at the $425 million, 8.14 acre River Landing Shops & Residences last week. The fast-food chain, taking 4,000 square feet, and the clothing chain, occupying a total of 15,000 square feet, will open by April 2020 at 1400 NW North River Drive.
River Landing is now 70% pre-leased, said Andrew B. Hellinger, co-principal at Urban-X Group. He is working with Coralee Penabad, co-principal at Urban-X Group, to develop the project.“That’s a positive sign because national retailers are savvy of where they put their locations,” Joseph M. Hernandez, chair of the real estate practice group at Weiss Serota Helfman Cole & Bierman, said.
The proximity to several health-related employers — including the Jackson Health System, University of Miami Miller School of Medicine and University of Miami Health System — likely entices national tenants, said Hernandez. “Universities and hospitals are typically good employment centers,” Hernandez said, “Tenants like to be near the traffic.”
“We are bringing into the urban core stores that have never been there before,” Hellinger said. Since products by Chick-Fil-A and Old Navy drive customers to a specific location, he said “it means higher foot traffic.”
The foot traffic will likely come from Downtown Miami, Allapattah, Little Havana and the Miami Health District, said Hellinger. He wrote by email, “River Landing Shops and Residence’s primary customer base will go beyond the project footprint.” Other retail tenants at River Landing include Publix Super Markets, Burlington Stores, TJ Maxx, Ross Dress For Less, GNC, Chase, AT&T and Hobby Lobby… Click to read more on Miami Herald.com
Article written by Rebecca San Juan, Miami Herald.com