Description:
CocoWalk is a four-level, open-air lifestyle center comprising 196,497 sf of GLA. It includes an 840-space revenue producing attached parking garage heavily utilized by customers of CocoWalk as well as visitors to Coconut Grove. CocoWalk benefits from a trend setting design and configuration that produces a unique ambiance central to its success. With its lively restaurants, bars and sidewalk cafes, eclectic mix of shops, boutiques and kiosks, and sparkling lights and music, CocoWalk offers a festive atmosphere that is unmatched in Greater Miami. CocoWalk was constructed in three phases. Phase I was built in 1990 and consisted of the main retail center, eight-screen original movie theater, and the rear side parking garage. Phase II was completed in 1994 and consisted of eight additional screens for the movie theater (increasing the total to sixteen) and an expansion of the garage. Phase III was completed in 2002 and consisted of a four-story attached building, with the entire first floor and most of the second floor adding 18,193 sf to Gap’s original premises and the balance of the building dedicated for office use. As expanded, The Gap’s premises totals 22,943 sf and features multiple store concepts, including The Gap, Baby Gap, Gap Body, Gap Kids and Gap Maternity. Completed in 2002 as part of Phase III, The Offices at CocoWalk, which total 17,414 sf and is 100% leased, has its own separate card key entrance fronting Grand Avenue.

Location:
CocoWalk is located at the intersection of Grand Avenue, McFarlane Avenue and Main Highway in the heart of Coconut Grove (the "Grove"), a village situated along Biscayne Bay within the City of Miami. Situated between Downtown Miami/Brickell, Coral Gables and Key Biscayne, the Grove is one of Greater Miami’s oldest and most desirable residential communities. It is perhaps best known for its thriving retail/entertainment district, which has long been one of Greater Miami’s most popular destinations for shopping, dining, and socializing.

Tenancy:
CocoWalk’s diverse tenant mix is ideal for a lifestyle center due to its proper balance between retail, dining, and entertainment uses and high percentage of national and regional tenants.

Choice Demographics:
Situated in Coconut Grove, within minutes of Downtown Miami/Brickell Avenue, Key Biscayne and Coral Gables, CocoWalk serves a large and growing trade area that includes some of Greater Miami’s most affluent and exclusive residential neighborhoods.

• The population within a three and five-mile radius totals 133,043 and 371,878, respectively, and are projected to grow about 6.5% over the next five years. Notably, the population within a one-mile radius is forecast to grow 8.8% over the next five years.
• The Grove and the surrounding area, including Coral Gables, Downtown Miami/Brickell Avenue and Key Biscayne, are some of Greater Miami’s most affluent residential areas. Prices for single-family homes in Coconut Grove’s trendy neighborhoods start at $500,000 and move quickly into the multi-millions for luxury estates. Prices for condominiums start at $400,000 and new luxury models range into the millions.
• CocoWalk will undoubtedly benefit from the unprecedented level of condominium construction activity occurring in Downtown Miami/Brickell Avenue, Coral Gables as well as Coconut Grove. This development activity, much of which is occurring in CocoWalk’s trade area, will significantly increase the densities and buying power of the local population.

Leasing Information

Mia Stierheim

Director of Retail
Colliers Abood Wood-Fay
95 Merrick Way, Suite 380
Coral Gables, FL, 33134
Phone: (305) 446-0011
Direct: (305) 447-7859
Fax: (305) 446-1907
mstierheim@colliersawf.com