MIAMI—One of the nation’s fastest-growing cities, Doral is attracting plenty of developers. CVS is the latest brand to take interest.
Hines hired High Street Retail to find a tenant for the corner of 87th and Doral Boulevard. High Street’s Sharon Dresser bought CVS to the table.
As she figured it, with so much housing coming online, CVS would be a good match for Doral Corporate Center. Developers broke ground on a 13,000-square-foot pharmacy with a drive through that will open in fall 2016.
“I’ve lived in Miami for 15 years and always take a creative and forward thinking approach,” says Dresser. “I know South Florida like the back of my hand and over time you get a sense of the development flow. My first project here was back in 2005 when I was helping to lease Doral Court. Even back then, I knew that at some point things here were going to explode.”
Explode is a good word. Downtown Doral has emerged as a hot market and Codina’s project is driving at least some of the momentum.
An 11-building office park there traded hands in October. Meanwhile, One Park Square in Doralkeeps filling up. And it’s not just retail and office. Demand is clearly rising for next-generation class A office space in Doral. Last August, Miller Construction started building the mixed-use Gateway Center Doral project there.
“Prior to the construction of Downtown Doral, the site was a decades-old suburban office park with vast fields of surface parking located directly across from the Trump National Doral Golf Resort and Spa,” Ana Codina-Barlick, CEO of the new Downtown Doral development. “We envisioned transforming this space into a vibrant urban core that would be the heart of this booming community with the amenities of a major metropolis in the comfort of a suburban neighborhood.”
Hines also hired High Street to market another commercial parcel, a 0.4 acre parcel in front of their 8800 Doral, a luxury 550-unit class A multifamily development next to Doral Corporate Center, the 278,000-square-foot class A office complex.