Miami’s second Trader Joe’s planned for new South Beach project

Miami’s second Trader Joe’s planned for new South Beach project

Monday, February 6, 2017

Rendering of 17th and West Avenue

Trader Joe’s is finally heading to South Beach in a new building planned for Alton Road and West Avenue, The Real Deal has learned.

Attorney Mickey Marrero announced the tenant at a Miami Beach Design Review Board meeting on Monday. The store will mark the first in Miami Beach for the popular California-based grocer and the second in Miami-Dade. 

1681 Ventures LLC, a company managed by Rock Soffer, other family members of Turnberry Associates and principals of Elion Partners, is planning a five-story, mixed-use project with residences, other tenants, parking and a Trader Joe’s on the ground floor.

The board approved design changes and one variance for the project, at 1698 Alton Road and 1681-1683 West Avenue, that will incorporate fresh-air intake valves and an agreement to modify the building’s green roof concept as proposed. The developer withdrew a request for a variance that would have reduced the width of a two-way driveway.

The building, designed by Stantec, won design approval in May for 28,142 square feet of retail space, 36 residential units and about 200 parking spaces. Records show 1698 Alton Road Ventures LLC acquired the former Shell gas station site in April 2015 for $8 million. 1681 Ventures LLC, also managed by Soffer, his father Don Soffer and the Elion principals, also bought the West Avenue parcels for $7.9 million in 2013.

Trader Joe’s has been described in public documents as a “prominent grocer tenant.” The grocer, which has its other Miami-Dade location in Pinecrest, will hire an artist to design the artwork for the Miami Beach store, as it does with all of its locations, said Marrero, a partner in Berkow Radell Fernandez & Larkin. The Comras Company is handling leasing for the 17th and West Avenue project, according to its website.

In South Florida, Trader Joe’s is also located in Pembroke Pines, Boca Raton, Delray Beach, Palm Beach Gardens, Wellington, Fort Lauderdale and Davie. On average, they typically lease between 10,000 square feet and 15,000 square feet.

In Miami Beach, it will join a Whole Foods planned for the Crescent Heights development on Alton and 19th Street, and an existing Epicure Market at 1656 Alton Road.

Trader Joe’s could not immediately be reached for comment.

Source: The Real Deal