South Miami Beach’s first large scale and brand new multistory retail center is close to completing contruction as of late June, 2009. The 5th and Alton retail center is located just off the Mac Arthur Causeway, which will include 185,000 sq. ft. of vertical retail space and a 943 car parking garage at the 5th street entrance to South Beach. U.S. Century Bank financed the development for the Berkowitz Development Group and Potamkin family.
The Shops at Fifth and Alton will serve as a development anchor for the West Avenue Corridor and the popular “South of Fifth” area of South Beach. The soon to be opening anchor tenants as of this date are Best Buy, a small-scale Staples, and the fourth floor will have a large Ross Dress for Less, and TJ Max. Expectations are that the 5th & Alton center will bring increased retail consumer traffic to the western section of South Beach, especially along Alton Road, West Avenue, and Fifth Street. Both retailers and landlords are hoping to attract the waterfront residents from The Murano Grande, Icon, The Murano at Portofino, Portofino Tower, Continuum North and South, Apogee, and West Avenue buildings such as The Bentley Bay, Waverly, and The Floridian condos that were completed in recent years.
Miami Beach’s New Retail Center Almost Complete
Advertisement
This entry was posted in Miami Beach commercial investment, Miami Commercial Properties and tagged 5th and alton, commercial real estate, fifth and alton, Miami Beach, Miami Beach Commercial, miami commercial, South Beach. Bookmark the permalink.
I am real sure that Ross dress for less will really appeal to the owners of the mentioned condos, NOT! Likewise TJ Maxx should really appeal. Talk about a poor selection of stores to attract the very upscale residents nearby. The only store I think that will do business might be the Best Buy (cameras, tvs, and computers), maybe Staples (compete with Office Depot?) and Publix which should do well except for major shopping we already have two Publix in South Beach including a major one only a mile north.