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Thursday, July 21, 2016

Demolishing part of CocoWalk to rebuild anew

A waiver notification was sent out regarding CocoWalk. The long time rumor of the new owners wanting to make structural changes is true. The waiver asks for permission "to demolish a portion of the existing three story structure and internal commercial spaces in two structures." It is now under review.

Long time talk was that the center portion would be going, where Starbucks and Tervis Tumbler are and that they would open up the space. 

I'm not sure how this would help CocoWalk as I think the problem is vendor selections - they need anchors or major draws. I was told that years ago Apple was interested but that the rent was too high. Too high for Apple? Another time I was told that they might go after H&M, which would be a draw and a desination store that would draw people.

Anyway, I don't see anyone appealing the waiver as it's private property and anything would be an enhancement to freshen up the place.

CocoWalk was sold for $87.5 million dollars in the spring of 2015. Federal Realty Investment Trust purchased the property along with Grass River Property and Michael Comras. Grass River is a Coconut Grove company, they were sort-of partners with PointeGroup at one time, but the two have parted ways.

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1 Comments:

Anonymous Anonymous said...

Not problems, "they" can still demolishing buildings and people.
Cristina

July 22, 2016 8:39 AM  

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