Midtown Commercial

Midtown Doral Commercial Retail, buildings 3 and 4. A project totaling 34,471 square feet of commercial space. Completed in 2017 and fully leased, the Property is leased to a mix of tenants including Cancun Grill, Club Pilates, Venetian Nails, Doral Veterinary, and Midtown Dentistry. The majority of tenants have long-term leases, resulting in a weighted average lease term (WALT) of 6.5 years for the Property. The property's trade area has truly irreplaceable demographics, with 25,000 residents within a mile and an average household income of $104,331.

The property is located within the master-planned community known as Midtown Doral, spanning 30.64 acres. Midtown Doral is a three-phase development that will feature over 1,200 multifamily units, 160,000 square feet of commercial space served by 6 parking garages. Additionally, Midtown Doral will have a three-story clubhouse spanning roughly 47,000 square feet with a gym, spa, and event space. Once completed, Midtown Doral will be a premier live, work, play city center with its residential, commercial, and recreational uses that allow residents to walk to cafes, restaurants, gyms, and boutiques.

Doral is one of the fastest-growing cities in the United States, with a population that nearly tripled between 2000 and 2019 and is forecast to increase another 20% by 2023. Doral has exceptional employment fundamentals compared to other markets in the southeastern United States. The city is home to the second-largest office market in the South Florida region, and its industrial submarket is the second largest in the southeastern US. Thanks to the city's strategic location next to Miami International Airport (MIA) and its geographic relevance, as well as its cultural and business ties to Latin America, a large number of Fortune 500 and multinational companies have chosen to establish themselves in Doral. As a result, over 150,000 employees work in the city every day.