Commercial Real Estate, Capital, Insurance, Leasing & Management

Open-Air Shopping, Entertainment Landmark on Tap for Broward County

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Robert Granda explains how new Dania Pointe project highlights ongoing shift in retail consumer behavior.

Dania Pointe, an $800 million, open-air shopping and entertainment center, is expected to become a signature lifestyle destination by merging retail, residential, office and hotel uses on a 102-acre tract in Broward County.

The massive project along Interstate 95 in Dania Beach, Florida, south of Fort Lauderdale, is under construction and scheduled to open in time for the 2018 holiday shopping season, according to developer Kimco Realty Corp. of New York.

Tenants that have signed on to the project include electronics and appliance retailer BrandsMart USA, TJ Maxx, Hobby Lobby and Outback Steakhouse. At buildout, the center will have approximately 1 million square feet of retail space, but that’s only a part of the mix.

Dania Pointe eventually will have up to 500,000 square feet of office space, 1,000 luxury apartments and condominiums, and two hotels in a project designed to appeal to residents, workers and tourists.

“It shows you, in my opinion, the change in consumer behavior of the older generation and the newer generation,” said Robert Granda, director of retail investment sales for Franklin Street. “I’m 37 years old, and the way in which my parents experienced retail shopping centers is a lot different than the way I experience them. Millennials don’t want to be tied down to one impractical place. It’s more than just the act of going to purchase an item; it’s all about the experience.”

Giving the customer an experience helps these centers draw patrons who might otherwise stay home and shop online, Granda and other retail analysts explain.

For full story, visit https://www.costar.com/article/184209/open-air-shopping-entertainment-landmark-on-tap-for-broward-county

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