What's Next for Lincoln Road Retail?

MIAMI—The Collins Avenue Fashion District is now 15 years old. The designated shopping district boasts flagship locations for national retailers along the corridor of 5th Street through 9th Street on A1A in South Beach.

Zara, Intermix, Diesel, Sephora, Armani Exchange, Kenneth Cole, Ugg Australia, Vidal Sassoon, and Nicole Miller are among the big names in two-mile strip, which includes Collins Avenue and Lincoln Road. The district has drawn global brands despite the recession and consumers who still seek high-end shopping.

But what's next for Lincoln Road and the surrounding area? Michael Comras of the Collins Improvement Association reminds that the district has evolved over the years. He tells GlobeSt.com Armani Exchange was the first tenant and the rest is history.

“Based on the impressive retailer ratios—rent to sales—there has been very little turnover as many of the original brands to the district continue to renew leases,” Comras says. “Rents have remained relatively stable and many tenants continue to boast sales of over $1,000 per square foot. In 2013, the Department of Transportation will begin the process of upgrading Collins Avenue with many improvements. We expect that the next 15 years of retail street life will be vibrant and further galvanize this sector.”

A few key indicators tell the story. Tourism figures continue to boast robust numbers and recent housing economic tumult in South Florida appears to be trending towards recovery. Recent national retail numbers show trends towards economic expansion and continued forward growth of consumer spending.

“Domestic and international visitors to the area continually rank Miami Beach as the number one visited destination, and spend an average of $8 billion in Miami Beach annually,” commented Rolando Aedo, executive vice president and Chief Marketing Officer of Greater Miami Convention & Visitors Bureau. “From a local perspective, Miami Beach's dense urban population of more than 11,500 people per square mile and the complementary mix of retailers catering to this audience's lifestyle are key contributors of Collins Avenue's success as a retail destination.”

Located one block from Lummus Park Beach, Collins Avenue's architectural design variety offers brands a home within Art Deco freestanding buildings and modern mixed-use structures, creating a unique blend of aesthetic wonder. The Collins Avenue Fashion District's retail experience is enhanced by an Arquitectonica designed 7th Street Garage that accommodates up to 50,000 cars per month and ample street parking, further cementing the area as South Beach's shopping destination.

“Miami has become the capital of South America and is drawing visitors from many of the those countries,” Comras says. “Within that, retailers are realizing the significant pedestrian traffic of 25,000 beachgoers that pass through the District daily is a significant advantage. The boutique hotels and restaurants also contribute to attracting new customers and locals are drawn in from the ease of access of parking at the 7th and Collins Avenue garage, located in the center of an incredible critical mass of unique retailers.”