MIAMI-Palladio of Brickell has signed a long-term lease for a 10,194-sf Italian specialty food market on the ground floor of One Broadway at Brickell, a recently completed 371-unit residential rental building. The market will open this fall.

The aggregate value of the lease is in excess of $4 million, Greg Masin, senior director of the local office of Cushman & Wakefield, tells GlobeSt.com. He represented both Daniele Podini of Palladio, and the building owner and manager. The owner is identified as Park Place at Brickell LLC. Locally based Rilea Group, headed by Alan Ojeda, president and CEO, developed the building and manages it.

The property is located across from the Four Seasons at the southern tip of the Brickell business district. Masin says the Brickell corridor is rapidly gaining residential development with an evolving 24/7 "live/work" demographic. The Palladio transaction "continues a trend of experienced retail operators seeking out the Brickell and Downtown markets," he says.

The tenant met Rilea Group's criteria for the retail space. From the start, Ojeda says he wanted to bring in a "high-caliber gourmet market operation as both an amenity to my tenants and to provide the emerging residential neighborhood with quality, necessity retail." Palladio Italian Gourmet Markets operates in more than 1,200 locations in Italy and other European countries, and also has a unit in Boca Raton.