Miami’s Midtown might soon have dueling, household retailers

10/26/2011

Word that Developers Diversified Realty is planning a 160,000-square-foot Wal-Mart on five acres south of The Shops at Midtown Miami is already generating mixed feelings from fans of the mixed-use center.

BayBridge Real Estate Group managing director Adam Greenberg, who has brokered sales of property in Wynwood, and who owns property just west of Midtown, said a Wal-Mart would bring more traffic to the area, a positive for property owners.

The site of the planned big box store is just east of the Wynwood Arts District and just south of The Shops at Midtown, which has a host of hip, popular restaurants including Sakaya Kitchen. Recently, the Midtown Target added groceries to its offerings, so the two big-box retailers will likely be competitors in that arena, as well as in the sale of household goods.

Greenberg said some might have concerns that a Wal-Mart would undercut the cutting-edge, arts-oriented vibe that Wynwood property owners have worked to cultivate. But a lot of the arts core – including major art galleries – is west of The Shops at Midtown Miami, so it might have little negative effect on the viability of the area as an arts hub, he said.

 

For the FULL article from South Florida Business Journal by Oscar Pedro Musibay, please click HERE.

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