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Crescent Heights Secures Whole Foods As Anchor Tenant For Miami Beach Mixed-use Project

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LEASED
RG
Sonny Kahn
BM
+ 1

Florida

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Retail40,000 SF
Leased 11/22/2023
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Property Image
LEASED

Crescent Heights Secures Whole Foods As Anchor Tenant For Miami Beach Mixed-use Project

1901 Alton Road

See Similar Deals
Retail40,000 SF
Leased 11/22/2023
RG
Sonny Kahn
BM
+ 1
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$0
Total Square Footage:40,000 SF
Transaction Type:Lease

Crescent Heights has secured Whole Foods as the anchor tenant for a proposed 199,000-square-foot mixed-use project in Miami Beach. The project is located at 1901 Alton Road and is set to be considered by a city planning agency in December. Plans for the project include a ground-floor Whole Foods and a second-floor dining area. The project has a budget of $39.8 million.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: N/A
  • Square Footage: 40,000
  • Address: 1901 Alton Road, Miami Beach

Sonny Kahn, Russell W. Galbut, and Bruce A. Menin of Crescent Heights are the landlords for this project. Jason Buechel represents Whole Foods as the tenant.

Details

LEASED
IMAGE: Bruce A. Menin, Sonny Kahn, Russell W. Galbut & Jason Buechel DATE: 11/22/2023 ADDRESS: 1901 Alton Road MARKET: Miami Beach ASSET TYPE: Retail ~ SF: 40,000 LANDLORD: Crescent Heights (@CrescentHeights) - Sonny Kahn, Russell W. Galbut (@RussellGalbut) & Bruce A. Menin TENANT: Whole Foods (@WholeFoods) - Jason Buechel NOTE: Crescent Heights has secured Whole Foods as the anchor tenant for a proposed 199,000-square-foot mixed-use project in Miami Beach, with plans including a ground-floor Whole Foods and a second-floor dining area. The $39.8 million project, located at 1901 Alton Road, is set to be considered by a city planning agency in December.

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Deal Type
Effective Rent (Annual)

$2,292,775.86

Total Lease Value

$22,927,758.62

Net Landlord Cash Flow$2,292,775.86