After a rough pandemic start, River Landing’s indoor mall is now close to fully occupied.
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The massive mixed-use project in Allapattah was completed during the COVID-19 pandemic, but the grand opening was delayed until September. Now the development’s retail portion is 97 percent leased, according to the property’s Coral Gables-based developer Urban-X GroupCanadian owner H&R REIT.
The most recent additions are Pet SupermarketIt occupies 5,849 square foot. Miami Optical BoutiqueIt will occupy 1,140 square footage. Both tenants intend to open later in the year, after having signed deals that span a decade.
Other tenants of the 360,000-square foot mall include big-box retail stores Publix, Hobby Lobby, Ulta Beauty, AT&T, Ross Dress For Less and NavyAs well as restaurants Chick-fil-A, Lime Fresh Mexican Grill, Ficelle Boulangerie & Pâtisserie 30SincoThe company will open a 25500-square-foot space.
The development also offers retail space and 135,000 square feet office space. Of this, 60 percent of the space is leased. There are 528 rental apartments, more than 2,000 parking spaces, and totaling 2.4 Million square feet. The property is located on 7.7 acres near the Miami River and cost $425 million. 1500 NW North River DriveJust south of the Jackson Health HospitalThree miles west of Downtown Miami.
With consumers returning to shopping in stores as pandemic fatigue sets in, Miami’s retail market is heating up. The retail vacancy rate fell to 3.3 percent in the second quarter 2022. According to data compiled and compiled by, the asking rent jumped by $1.53 per sq foot to $42.10 in the first half of 2018. Colliers.
This week, RPT RealtyTo acquire a $216 million worth of property, I spent $216 million Mary Brickell Village Shops center, outpacing 2021’s largest retail deal, which came in at $101 million.
Julia Echikson is available at [email protected].