by: Justin Sumner
Just three months after a joint venture including Duncan Hillsley Capital and Pebb Capital Closed on its $39 million acquisition of the Downtown Dadeland retail component, a lifestyle center on N. Kendall Dr. in Miami, the group has announced five new retail and restaurant tenants have signed 33,293 square feet at the 127,000-square-foot dining and shopping complex.
Flippin’ Pizza will take 2,100 square feet, Verizon will occupy 6,770 square feet this month, Which Wich, a sandwich shop, will take 1,506 square feet in December, Hospital Corporation of America has leased 19,467 square feet for its medical practice, and OCC Burger will open a 3,450-square-foot restaurant next February. The tenants will join West Elm, Chili’s, Lime, World of Beer, Men’s Wearhouse, Panera Bread, and others, in addition to 416 residential condo units.“Our tenants are the most important ingredient when it comes to creating a lifestyle destination that will be enjoyed by nearby residents who make Downtown Dadeland part of their daily routine,” says Shane Hillsley, managing director at Duncan Hillsley Capital. “We’ll be repositioning the property through a new branding campaign, capital improvements, and special events that appeal to families and young professionals in the area.
”The 7.5-acre property is close to Miami-Dade’s Metrorail system, US-1 and the Palmetto Expy, 2 million square feet of adjacent office space, several hotels, and more than 3,000 residential units in several nearby neighborhoods including Pinecrest, South Miami, Coral Gables, and Kendall.
Ownership has engaged Continental Real Estate Companies (CREC) to handle leasing and management efforts at the retail center.
“ Downtown Dadeland offers the best of both worlds – dynamic energy in an urban setting along with easy access to some of Miami’s most desirable residential neighborhoods,” explains Carol Brooks, president and co-founder of CREC. “Our tenant mix offers something for everyone, from the perfect cup of coffee and yoga classes, to sidewalk cafes and some of the liveliest Happy Hour events in town.”