Miami’s Brickell Financial District is experiencing a sharp climb in the number of residents and businesses that call the area home, and the district’s newest hotel property is prepared to deliver 10,000 square feet of new retail/restaurant space to the market.
The under-construction Hampton Inn & Suites Miami Brickell-Downtown, set to open this fall at 50 SW 12 St., offers retailers and restaurant operators an opportunity to capitalize on rising population growth in the surrounding neighborhood, an influx of commercial activity throughout Downtown Miami, and the steady flow of visitors who will occupy the Hampton Inn & Suites’ 221 guest rooms and 3,500 square feet of meeting space.
The 10,000-square-foot street level space, accessible from SW 12th Street, is the largest contiguous block of restaurant product now available in the Brickell Financial District. The storefront space can be divided for multiple users and offers ample on-site parking, making it ideal for restaurant operators ranging in size from 2,000 to 8,000 square feet.
Hospitality Operations Inc., the Miamibased developer of the new Hampton Inn & Suites, has engaged Kerry Newman of the brokerage firm Koniver Stern Group to spearhead the leasing of the space.
“The Hampton Inn & Suites Miami Brickell-Downtown will be the newest mid-range lodging option in a Downtown Miami market that is enjoying heightened popularity as an international destination for visitors and businesspeople,” said Bernard Wolfson, president of Miamibased Hospitality Operations Inc., the project’s developer.
“This dynamic, coupled with the hotel’s mid-market appeal and the Brickell area’s emergence as a hotbed of residential and commercial growth, means our street-level storefronts offer big business opportunity for restaurateurs seeking a presence in the area.”
The delivery of another 10,000 square feet of retail/restaurant space in Downtown Miami comes just as the area welcomes a flurry of new retail and restaurant openings as operators tap into dramatic residential growth that has seen the area’s population nearly double in the past decade.
Since 2009, Downtown Miami has welcomed a total of 76 new shops and restaurants just as residential occupancy in the district’s high-rises has risen from 62 perent to 85 percent, according to a recent study by the Miami Downtown Development Authority.
Property features include a 210-space parking garage offering convenient and affordable parking for restaurant patrons, the availability of monument signage fronting SW 12th Street, and close proximity to public transit options, including Metrorail and Metromover. The hotel will feature a modern, upscale interior design reminiscent of a high-end property.
Construction of the 15-story Hampton Inn & Suites Miami Brickell-Downtown began in mid-2010 and topped-off in early 2011. The project, which is LEED-registered, will include a number of sustainable features, including a 35,000-gallon cistern to collect rainwater for irrigation purposes, low-flow water fixtures, and an Ozone laundry system designed to reduce the consumption of water, energy and chemicals. John Moriarty & Associates of Florida is general contractor.
For leasing information, contact Kerry Newman with Koniver Stern Group at 305- 532-6100.
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