Marcus & Millichap has been selected to exclusively market for sale 852 Collins Avenue, a 9,285-square-foot two-tenant retail building in the heart of the world famous South Beach Historic District in Miami Beach, Florida. The property was completely renovated in 2015 and leased to two tenants with brand new long term leases. The majority of the ground floor is leased to Planet Blue, a corporate fashion boutique based in California with nine additional locations across the country. Planet Blue has recently opened for business and is enjoying very strong traffic and sales volume. The upper floors have been rented to the neighboring hotel Jetset Franklin, a loft style short-term rental concept that will complement their adjacent hotel at 860 Collins Avenue. They expect to be opening their expansion concept in the coming weeks. This investment offers a buyer the rare opportunity to own a trophy retail asset with two long-term net leases and aggressive 3% annual base rental increases. The property neighbors an impressive national tenant roster that includes Banana Republic, A/X Armani Exchange, Aldo, Victoria' s Secret, Sephora, Guess and Diesel Jeans.
Located in world famous South Beach, Florida, 852 Collins Avenue enjoys a premier location on Collins Avenue between Eighth and Ninth streets. The property is one block west of Ocean Drive and the beaches. Collins Avenue is coined as Millionaire Row and boasts many famous and trendy hotels. From the intersection of Ninth Street to the intersection of Sixth Street, Collins Avenue is home to several top clothing and boutique labels from around the world, including A/X Armani Exchange, Banana Republic, Levi Strauss & Co., Victoria' s Secret, Diesel Jeans, Tommy Hilfiger, Nine West, Zara, Guess,
Banana Republic, and many others. Collins Avenue is one of the busiest north-south traffic arteries in Miami
Beach, with outstanding day and evening vehicle and pedestrian traffic. South Beach, or SoBe as the locals call it, is located at the southern end of Miami Beach. There are approximately 3,500 residents in the immediate area and 100,000 in all of Miami Beach. In both daytime and nightfall, South Beach is a major entertainment destination, with hundreds of nightclubs, restaurants,
boutiques and hotels that provide constant customer traffic for the local retailers.
