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Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the opportunity to acquire PLANTA South Beach (the “Property”), Miami’s premier location for innovative plant-based fine dining. Completed as a 2018 built-to-suit and the first PLANTA in the state of Florida, the asset is 7,835 SF and sits within a 0.21 acre lot on outstanding physical real estate in the South of Fifth neighborhood in Miami Beach. The asset has 6.5 years of term remaining on a lease with minimal landlord responsibilities.
- ELITE SOUTH BEACH REAL ESTATE: The Property is nestled between Alton Road and Washington Avenue at the southern most point of the island in a dense restaurant corridor that includes Fogo de Chao, Joe’s Stone Crab, Papi Steak, Carbone, and more. The surrounding area has also become a hot spot for luxury residential and hospitality and is home to massive population and rent growth given the state’s favorable business environment.
- INNOVATIVE AND EXPANDING RESTAURANT CONCEPT: PLANTA is an upscale vegetarian restaurant concept that offers a sustainable and locally sourced menu. The flagship South Beach location was Florida’s first, and its success has led to two other locations in the surrounding area.
- NET LEASE WITH MINIMAL LANDLORD REPSONSIBILITIES: The Property has a below market $73psf rent ($575,000/yr) with 3.00-5.00% increases annually with one, five year option at 103% of the last paid rent with 3.00% annual increases.