Coral Gables - Kerdyk Real Estate

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CORAL GABLES
The City Beautiful
CORAL GABLES
CITY PROFILE
• Coral Gables is one
•
of the most
prestigious
communities in the
United States
The city boasts
international
sophistication, an
affluent lifestyle, and
lush landscapes
The Master Plan
• The City was founded by
George Merrick in the early
1900’s
• Merrick’s vision of Coral
Gables as “The American
Riviera” has been ardently
maintained
• With a strong zoning code
and an acute awareness of
planning, the city assures it’s
quality and character will
endure
Location Location
• In the heart of Miami-
•
Dade County, Coral
Gables is centrally
located to major
business and tourist
points of interest
Tourists, residents and
business travelers alike
flock to Coral Gables
year round
Demographics
•
•
•
•
•
Number of Residents: 80,020
Employment: 40,000
Average Household Income: $127,384
Median home values exceed $275,000
Education: over 50% of residents 25 and
older have a college degree; 25% have a
graduate or professional degree
Coral Gables
Business Profile
“CORPORATE CAPITAL OF
THE AMERICAS”
• Coral Gables is the Latin American or regional
headquarters to more than 175 multinational
companies and more than 21 Consulates
CENTER OF PROFESSIONAL
SEVICES AND ADMINISTRATIVE
OPERATIONS
• Coral Gables is home to major multinational
•
corporations, financial institutions and law
firms
3,800 businesses have a combined sales figure
of $98 billion; 40,000 white collar employee
base with median per capita incomes in excess
of $60,000; total worker population within three
miles of downtown Coral Gables exceeds
100,000
Office Space
• 6.5 million square feet of prime office
space; 4.5 million square feet in
downtown Coral Gables alone
Major Employers in Coral Gables
• ABC News, AT&T Americas, Adobe, Alcoa, American
Airlines, Apple Computers, Bank Boston International,
BBC, Club Med, Del Monte, Dow Jones, ExxonMobile,
Carvajal International, Chevron/Texaco, Fox News
Latin America, Goodyear, IBM, HBO, Hill & Knowlton,
H.J. Heinz, Time Magazine, United Airlines, Venevision,
Wall Street Journal and Yahoo Latin America, just to
name a few of the more than 175 multinational
corporations, with over 42,000 executives and
corporate employees coming to work in the city each
day
See City of Coral Gables Website at http://www.coralgables.com/CGWeb/businesses.aspx
Coral Gables Retail Profile
The Lifestyle
• Retail stores in Coral
•
Gables concentrate
on home and lifestyle
formats
Luxury, Culture and
Comfort are the
driving themes
throughout Coral
Gables Retail
NICHE MARKETS
• The Good Life stage - Mortgage-free empty-nesters with high
•
•
•
•
•
disposable income and many leisure-time activities.
Working Women/Two Career families - Time-sensitive shopper,
discriminating and heavy purchaser of beauty and fashion
services
Grey Market - Stable, frequent shoppers, often purchase children's
and recreation-oriented products.
Hispanic Market - Loyal consumers, well-traveled, spend heavily
on children's products
Young Married Affluent - Culturally-oriented, well-traveled,
multilingual, interested in antiques, period decor and fashion
forward
Bridal - Looking for unique designs in gowns and jewelry, heavy
purchasers and receivers of china, crystal and home.
see City of Coral Gables website at:
http://www.coralgables.com/CGWeb/dep_dev_retail.aspx
Market Flexibility
•
• Coral Gables has nine retail
districts catering to a wide range
of shoppers and offering
everything from value-priced
goods to luxury items. Recently,
Coral Gables has drawn several
national developers and retailers
to the area, resulting in exciting,
new retail offerings and projects.
•
•
•
•
•
•
see City of Coral Gables website at:
http://www.coralgables.com/CGWeb/dep_dev_retail.aspx
•
•
•
CORAL GABLES NINE RETAIL
DISTRICTS
1 - Flagler Street and North Ponce De Leon
Boulevard.
2 - Southwest 8th Street between Red Road
and LeJeune Road.
3 - North Ponce De Leon Boulevard
between 8th Street and Navarre.
4 - Central Business District (CBD) Navarre
to Palermo between Red Road and
Douglas Road.
5 - Downtown and Miracle Mile (BID) Coral
Way between LeJeune and Douglas Road
north to Aragon, south to Andalusia.
6 - Design District south of Bird Road to
Dixie Hwy between LeJeune Road and
Ponce De Leon Blvd including Village of
Merrick Park.
7 - Booker and Grand Avenue south of
Dixie Hwy (US1) west of Douglas
8- Dixie Hwy (US1) between Cabellero
Boulevard and Riviera Drive.
9 - East of Red Road and north of Sunset
Drive south of Dixie Hwy (US1) to south
Alhambra Circle.
Current Retailers in Coral Gables
•
•
•
•
•
•
•
•
•
•
Neiman Marcus
Tiffany & Co.
Williams-Sonoma
Starbucks
Nordstrom
Barnes and Noble
Radio Shack
Burberry
Coach
Gucci
Consumer Appetite
• Last year, more than $1.1 billion in retail sales were
•
•
•
generated in Coral Gables, which now has a vacancy
rate less than five percent.
Total Avg Household Expenditure: $76,199
Total Avg Retail Expenditure: $32,339
Average Household Income $127,387
Retail Space
• Over 2 million square feet of retail space with
an additional 600,000 square feet in the
pipeline
Mixing It Up
• Mixed-use
•
developments continue
to spring up around
Coral Gables
Coral Gables also boasts
an impressive mix of
national, international
and local tenants, both
residential and
commercial
Coming Soon
• Currently there are over 40 commercial development
and residential projects the pipeline in Coral Gables in
both office and retail.
• According to the City of Coral Gables Building and
Planning Department, over 600,000 square feet of retail
space is under construction and in the planning stages.
Recreation Abounds
• Fairchild Tropical
•
•
•
•
•
Gardens
Matheson Hammock
Waterways
Golf Courses
City Parks
The Venetian Pool
Gastronomical Delights
•
•
•
•
Over 120 restaurants
Cuisines from the four corners of the globe
Internationally acclaimed chefs
Close to $120 million dollars was spent in food and
beverage sales in 2004
Culturally Speaking
•
•
•
•
•
•
THEATRE: Actors' Playhouse at the Miracle Theatre
ART GALLERIES: Coral Gables International Art Center
WINE TASTINGS
INTERNATIONAL CUISINE
NIGHTLIFE
MUSEUMS AND CULTURAL CENTERS
KERDYK KNOWS CORAL
GABLES
• Kerdyk Real Estate, the oldest real estate
•
brokerage in Coral Gables, has been involved
in commercial real estate since 1926
With its great tradition of services and state of
the art technology, Kerdyk Real Estate has
become one of the most successful and
respected commercial real estate firms in
South Florida
Credits
• City of Coral Gables and the City of
Coral Gables website:
www.coralgables.com
• Business Improvement District of Coral
Gables: www.shopcoralgables.com
• Robin Burr, Pedestrian Pocket Guide to
Coral Gables, Florida:
www.pedestrianguides.com
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