South Florida Business Journal
/
April 4, 2017
Miami Beach retail center anchored by Michaels Stores breaks ground
A retail project anchored by art and crafts chain Michaels Stores broke ground on Alton Road in Miami Beach. FirstBank Puerto Rico, which does business in Miami as FirstBank Florida, awarded a $22.25 […]
A retail project anchored by art and crafts chain Michaels Stores broke ground on Alton Road in Miami Beach.
FirstBank Puerto Rico, which does business in Miami as FirstBank Florida, awarded a $22.25 million construction loan to Saber 1800 Alton LLC, managed by Michael Klinger in Aventura and Martin Berger in Armonk, New York. Amicon Construction Services recently filed notice that it started work on the five-story, 109,961-square-foot project with at 1824 Alton Road. It will have 32,491 square feet of leasable space and 130 parking spaces on the top two floors.
According to a lease filed with the county in April 2016, Michael’s agreed to occupy 22,492 square feet.
The 24,000-square-foot site was acquired for $7.3 million in 2015. A service station there was previously demolished.
Architect Kobi Karp designed the project.