Miami Worldcenter signs first restaurant leases – Commercial Observer
Miami World Center, one of the largest development projects in the United States, signed its first restaurant leases between May and June, totaling 30,400 square feet, with the former Michelin-starred chef Danny Grant and James Beard nominated Michel beltran.
Grant, who is based in Chicago, will open his famous steakhouse, Maple and ash, and Italian restaurant And your in block H – a commercial building located between 7th street and 1st Avenue North-East. The steakhouse will occupy 15,000 square feet and its counterpart will occupy over 11,000 square feet.
Miami chef Michael Beltran will also open two locations: Laurel – a 2,800 square foot Cuban-influenced bistro – and El Vecino, a 1,600 square foot cigar bar. Both will be located on the ground floor of Caoba, a condo building adjacent to Block H.
The retail asking rent for the development is approximately $ 100 per square foot, Michel Comras of The Comras Company told Commercial Observer. All restaurants are expected to open by the fourth quarter of 2022, the broker added.
The Comras firm represented both the owner and the client Miami Global Center Associates, which is headed by the managing partner Nitin Motwani and the Los Angeles based CIM Group – and Grant. Beltran representatives Ariete Hotel Group could not be reached for comment.
Miami Worldcenter “is the hole in the donut,” Comras said, referring to the development’s prime location.
Located between the Brickell neighborhood and MacArthur Causeway, the $ 4 billion project aims to revitalize a sleepy part of the city’s downtown core. Occupying 10 city blocks, the 27 acres are second only to Manhattan’s Hudson Yards complex in terms of size for planned or recently opened real estate developments.
Much of the site remains under construction. Only two residential buildings were completed: the 43-story Caoba and the 60-story Paramount Miami Worldcenter condominium. And only two more are expected to open later this year: ZOMhas 43 floors Lunette at Miami Worldcenter residential tower and the 351 rooms citizenM Hotel.