Last updated on April 12th, 2017 at 02:40 pm
A new ground-up development addition in Miami, Florida, called Pinecrest Place will be anchored by a 46,000-s.f. Whole Foods Market store. The development will add 70,000 s.f. to a retail space that already includes a 173,000-s.f. Target. Construction on the $16.4 million project is expected to be completed in the second quarter of 2018.
“Pinecrest Place is an ideal blend of best-in-quality anchors with substantial parking, and visibility from the heavily travelled US-1 commercial corridor south of Miami,” said Paul Maxwell, VP of investments for Regency Centers. “The shopping experience will be a powerful reflection of the lifestyles and wants of the affluent communities surrounding the shopping center, providing a superior anchor lineup with complimentary restaurants and small-shop retail.”
Strategically located off of US-1 (S. Dixie Highway), Pinecrest Place will benefit from a traffic count that exceeds 90,000 cars per day in one of the strongest trade areas in Southeast Florida. A surrounding daytime population of more than 120,000 bolsters an active and affluent residential market with average household incomes of more than $130,000 in the trade area, according to Regency Centers.
