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Front Page » Business & Finance » Third Strike Coming For Ballpark Retail

Third Strike Coming For Ballpark Retail

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Written by on July 18, 2013

By Meisha Perrin
Three strikes is the number to remember when it comes to Marlins Park parking.

Only three of the retail slots in the city-built and -owned parking garages outside the baseball stadium have been leased, and the City of Miami is now being forced to seek its third property management company for the space after Terranova Corp. sent a letter of termination to the city’s Department of Public Facilities and Asset Management last month.

Terranova, according to Miami Parking Authority CEO Art Noriega, gave the city until September to find a new leasing firm.

The firm gave 90 days’ notice, he said, so the city could go through a procurement process.

The city had awarded Terranova the contract to handle retail leasing and management of the 53,000-square-foot space in three of the four garages at the stadium in July 2011. The original contract had gone to NAI Miami.

The two companies were the only bidders to respond in time to a city request for interest.

And now, in the stadium’s second full season, after months of unsuccessful marketing and during a disappointing baseball year, Miami officials are on the hunt again for a realtor to bring tenants to the largely vacant space that was to help the city pay construction costs.

Of the 53,281 square feet available, the three businesses that have leases with the city take up less than 6,000 square feet total. Cigar Shop 100 Fires Cigars has the smallest site in the three garages, 625 square feet; Subway takes a 1,370-square-foot slot; and Latin restaurant Café Rubio 3,196 square feet.

All three are to open before year’s end.

The city, Mr. Noriega said, has already requested leasing company proposals. They’re due by Aug. 1.To read the entire issue of Miami Today online, subscribe to e-MIAMI TODAY, an exact digital replica of the printed edition.

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