Miller Road S.C. is a very strong grocery anchored neighborhood center located in a densely populated market. The project underwent a complete redevelopment in 2015.
Gross Cost: $3.2 M
Completion Date: 1Q 2015The community of southwest Miami is a densely populated and stable market. For many years, Miller Road has been a strong performing neighborhood shopping center but the center was showing its age and was in need of renovation. The two anchors, Publix & Walgreens, both performed extraordinarily well, but their facilities were outdated. Kimco determined that a redevelopment was required to secure the center's position in the market, enhance the shopping experience for customers, and grow net operating income. The redevelopment consisted of several phases. Phase One included the demolition of a gas station and some small shop spaces to accommodate a freestanding Walgreens. Once the new Walgreens opened for business, Phase Two began with the demolition of the in-line Walgreens store and the existing Publix supermarket. Publix then constructed a freestanding store on caissons with ground level parking underneath their store. All remaining small shop stores received a complete facade renovation and the parking lot was upgraded.
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by Block Group
Popstats, 4Q 2018 rev., Trade Area Systems
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