H&M is opening a second store in Miami Beach on April 27, in the former Kenneth Cole space at the corner of Collins Avenue and Eighth Street.
The store will span 15,000 square feet at 763 Collins Avenue, marking the 32nd H&M (Hennes & Moritz) in Florida, according to a release.
RKF Executive Vice President Drew Schaul represented H&M in the deal.
Property records show Tiffany 3/8 Assoc. Ltd., linked to Goldman Properties’ Senior Managing Director Marlo Courtney, bought the site for $195,000 in 1975. The current building was built in 1995.
H&M already operates a 24,000-square-foot flagship store at 551 Lincoln Road. Fast-fashion competitor Zara also has two stores in similar locations, on Lincoln Road and on the Collins Avenue retail corridor in South Beach.
Schaul declined to discuss terms of H&M’s new lease or the Collins Avenue shopping district, which is currently experiencing several vacancies. Retailer Intermix recently vacated its long-time space at 634 Collins Avenue. It now operates on Lincoln Road as well as at Bal Harbour Shops.
In Miami-Dade County, H&M also has stores at Aventura, Dolphin and Miami International malls. — Ina Cordle