Plenty of retail locations closed for good this year, but other businesses saw those closures as opportunities.
Even with the escalation of e-commerce, the average square footage of the top five retail leases this year was only 10,000 square feet short of last year’s average.
Here’s a breakdown of the top retail leases signed this year in South Florida.
1. City Furniture, Hollywood, 114,764 sf
Fort Lauderdale-headquartered furniture chain City Furniture signed a lease for 114,764 square feet at 3800-4000 Oakwood Boulevard in Hollywood. The site is in the Oakwood Plaza North shopping center.
2. Round One Entertainment, Pembroke Pines, 101,621 sf
Round One Entertainment agreed to lease 101,621 square feet in Pembroke Lakes Mall in Pembroke Pines. The entertainment center will be replacing a Sears.
3. Bowlero, Boca Raton, 62,000 sf
Bowlero inked a long-term lease for 62,000 square feet at 21046 Commercial Trail in Boca Raton. The high-end bowling and entertainment chain is taking over the Strikes bowling alley.
4. Spirit Halloween, Royal Palm Beach, 58,341 sf
Spirit Halloween signed a lease for a temporary location at 450 South State Road 7 in Royal Palm Beach near Wellington. The seasonal Halloween store leased 58,341 square feet.
5. Target, Miami, 51,088 sf
Target agreed to lease 51,088 square feet of retail space in downtown Miami. The mixed-use building, Block 55 Overtown, will have residential units on top of retail tenants, anchored by Target.
SOURCE: TRD analysis of brokerage data, as provided by Colliers International, news clippings and market reports.