LIONHEART

PREMIERE DESIGN DISTRICT OPPORTUNITY

DESIGN DISTRICT MIAMI’S HUB FOR LUXURY BRANDS

he Design District is a unique, supply-constrained neighborhood dedicated to fashion, design, architecture and dining. The bulk of the Miami’s Design District is owned by a partnership among Dacra Real Estate (“Dacra”), L Catterton Real Estate, an investment fund sponsored by Bernard Arnault and Louis Vuitton Moët Hennessy (LVMH) specializing in luxury shopping destinations, and Brookfield Property Retail Group, one of the largest retail owners in the U.S.

Bound by North Miami Avenue to the west, NE 2nd Avenue to the east, NE 42nd Street to the north and NE 38th Street to the south, the Design District is strategically located at the intersection of Biscayne Boulevard (US Hwy 1), I-195 and I-95, just 3 miles north of Downtown Miami, 4.5 miles west of Miami Beach, and 5.0 miles east of Miami International Airport. Originally developed in the 1920s as a furniture design and retail destination, the Design District has been transformed

In 2014, Dacra and L Catterton sold a 20% interest to Brookfield. In addition to luxury shopping, the Design District is home to restaurants by renowned international chefs and art galleries sponsored by the De La Cruz and the Robins / Braman families, three of the largest art collections in the Americas. As a result, this 8-block area has become the primary location of interest for any retail, office or hotel

user that wants to be associated with the most upscale neighborhood in Miami. Since opening the first high-end LVMH stores in 2011, the Design District has experienced a significant transformation into an international retail destination with ground floor retail rents ranging from $100 to $300 psf. The combination of tenant sales volumes as high as $3,000 psf, limited land available for development and scarcity of available retail space have significantly pushed rental rates upwards over the past 5 years and

over the past decade into a vibrant luxury retail and dining destination for residents and visitors alike. Furthermore, since 2002, the Design District has hosted a number of major exhibitions for Art Basel, one of the largest art showcases in the world, drawing an annual influx of highly affluent shoppers from across the world to the area. From the 1990s to the late 2000s, Dacra, led by Craig Robins, acquired over 18 properties and 2 development sites in the Design District, representing over 450,000 sf of retail space and several million sf of development rights.

will continue to drive rates in the future. The existing roster of luxury brands and the completion of the remaining development sites over the coming years will continue to attract more high-end retailers to the Design District, further establishing the area as one of the top retail destinations in the country, similar to 5th Avenue in New York City and Rodeo Drive in Beverly Hills.

In 2010, L Catterton Real Estate (the LVMH affiliate) acquired a 50% interest in Dacra’s portfolio in the Design District. LVMH subsequently brought its affiliated brands to the Design District, including Louis Vuitton, which relocated from Bal Harbour Shops in 2011, Dior, Fendi, Bulgari, Hublot and Sephora. Unaffiliated brands such as Gucci, Rolex, Hermes, Christian Louboutin, Balenciaga, Cartier, Van Cleef, Rick Owens, Panerai, Giorgio Armani, Valentino, Dolce & Gabbana, Yves Saint Laurent, Tom Ford and Prada soon followed.

PAGE 19