NEW HYDE PARK, N.Y.--(BUSINESS WIRE)--
Phase I is 93% Leased on Strong Retailer Demand; Phase II Execution Well Underway
Kimco Realty Corp. (KIM) today announced the Phase I grand opening of its Dania Pointe Signature Series development in Dania Beach, Florida. Phase I of the 102-acre mixed-use development consists of approximately 330,000 square feet of retail, now 93% leased to brands including TJ Maxx, Hobby Lobby, Ulta, Lucky’s Market, BrandsMart, Five Below, Starbucks and YouFit Health Club.
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“We are extremely proud to announce the grand opening of Phase I of Dania Pointe, the largest and most impactful of our Signature Series developments,” said Conor Flynn, Kimco’s Chief Executive Officer. “We’re thrilled with the progress made to date, reflecting the avid demand across retail categories driven by the unmatched quality of this location. Today’s milestone builds upon the growing momentum we are generating in our leasing and re/development platforms, which are Kimco’s primary drivers of long-term value creation in the evolving retail landscape.”
Dania Pointe’s dominant, high-visibility location spans three exits and 1,600 feet of frontage on I-95, where traffic counts reach over 300,000 cars per day. Only one exit south on I-95 from the Fort Lauderdale-Hollywood International Airport and 10 minutes from the Port Everglades Cruise Port, the lifestyle center will serve the projected 15 million domestic and international tourists visiting Broward County annually. Dania Pointe sits adjacent to Kimco’s Oakwood Plaza, an 899,000-square-foot open-air center anchored by Home Depot, BJs Wholesale, Burlington, Marshall’s, HomeGoods and dozens of other national retailers.
Dania Pointe Phase II will include an additional 370,000 square feet of lifestyle retail, dining and entertainment, along with two Marriott hotels, 250,000 square feet of office space, and 600 residential apartment units. Phase II retail is 60% committed, with Bowlmor, Tommy Bahama, Forever 21, b. young, Lindbergh and American Soul set to join with an anticipated completion in 2020.
“With Dania Pointe, we recognized the potential in what was essentially a gravel quarry and a defunct roller coaster, and transformed it into a grocery-anchored shopping experience in an inviting atmosphere where shoppers will want to gather, work, play and ultimately live,” said David Jamieson, Kimco’s Executive Vice President and Chief Operating Officer. “The energy and excitement surrounding the Phase I opening will carry over into Phase II, where a complementary mix of uses, combined with a thoughtful placemaking approach, will create a truly iconic environment that will drive 24-hour traffic.”
Phase II has continued to progress with the kickoff of construction earlier this fall on Avery Dania Pointe, the project’s first multifamily component, developed by Meyers Group on a ground lease agreement. Avery Dania Pointe will feature 264 apartment units in an eight-story building designed by Miami architect Kobi Karp. Meyers Group, headquartered in Coral Gables with a residential portfolio throughout Florida, expects to begin leasing apartments in late 2019, with move-ins planned for 2020.
Kimco Realty Corp. (KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of September 30, 2018, the company owned interests in 450 U.S. shopping centers comprising 78 million square feet of leasable space primarily concentrated in the top major metropolitan markets. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for 60 years. For further information, please visit www.kimcorealty.com, the company’s blog at blog.kimcorealty.com, or follow Kimco on Twitter at www.twitter.com/kimcorealty.
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