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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 Coral Gables is.

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Presentation on theme: "CORAL GABLES The City Beautiful. CORAL GABLES CITY PROFILE Coral Gables is one of the most prestigious communities in the United States Coral Gables is."— Presentation transcript:

1 CORAL GABLES The City Beautiful

2 CORAL GABLES CITY PROFILE Coral Gables is one of the most prestigious communities in the United States 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 city boasts international sophistication, an affluent lifestyle, and lush landscapes

3 The Master Plan The City was founded by George Merrick in the early 1900s The City was founded by George Merrick in the early 1900s Merricks vision of Coral Gables as The American Riviera has been ardently maintained Merricks 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 its quality and character will endure With a strong zoning code and an acute awareness of planning, the city assures its quality and character will endure

4 Location Location In the heart of Miami- Dade County, Coral Gables is centrally located to major business and tourist points of interest 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 Tourists, residents and business travelers alike flock to Coral Gables year round

5 Demographics Number of Residents: 80,020 Number of Residents: 80,020 Employment: 40,000 Employment: 40,000 Average Household Income: $127,384 Average Household Income: $127,384 Median home values exceed $275,000 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 Education: over 50% of residents 25 and older have a college degree; 25% have a graduate or professional degree

6 Coral Gables Business Profile

7 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

8 CENTER OF PROFESSIONAL SEVICES AND ADMINISTRATIVE OPERATIONS Coral Gables is home to major multinational corporations, financial institutions and law firms 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 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

9 Office Space 6.5 million square feet of prime office space; 4.5 million square feet in downtown Coral Gables alone 6.5 million square feet of prime office space; 4.5 million square feet in downtown Coral Gables alone

10 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

11 Coral Gables Retail Profile

12 The Lifestyle Retail stores in Coral Gables concentrate on home and lifestyle formats Retail stores in Coral Gables concentrate on home and lifestyle formats Luxury, Culture and Comfort are the driving themes throughout Coral Gables Retail Luxury, Culture and Comfort are the driving themes throughout Coral Gables Retail

13 NICHE MARKETS The Good Life stage - Mortgage-free empty-nesters with high disposable income and many leisure-time activities. 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 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. 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 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 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. 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

14 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. 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 see City of Coral Gables website at: http://www.coralgables.com/CGWeb/dep_dev_retail.aspx CORAL GABLES NINE RETAIL DISTRICTS CORAL GABLES NINE RETAIL DISTRICTS 1 - Flagler Street and North Ponce De Leon Boulevard. 1 - Flagler Street and North Ponce De Leon Boulevard. 2 - Southwest 8th Street between Red Road and LeJeune Road. 2 - Southwest 8th Street between Red Road and LeJeune Road. 3 - North Ponce De Leon Boulevard between 8th Street and Navarre. 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. 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. 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. 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 7 - Booker and Grand Avenue south of Dixie Hwy (US1) west of Douglas 8- Dixie Hwy (US1) between Cabellero Boulevard and Riviera Drive. 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. 9 - East of Red Road and north of Sunset Drive south of Dixie Hwy (US1) to south Alhambra Circle.

15 Current Retailers in Coral Gables Neiman Marcus Neiman Marcus Tiffany & Co. Tiffany & Co. Williams-Sonoma Williams-Sonoma Starbucks Starbucks Nordstrom Nordstrom Barnes and Noble Barnes and Noble Radio Shack Radio Shack Burberry Burberry Coach Coach Gucci Gucci

16 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. 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 Household Expenditure: $76,199 Total Avg Retail Expenditure: $32,339 Total Avg Retail Expenditure: $32,339 Average Household Income $127,387 Average Household Income $127,387

17 Retail Space Over 2 million square feet of retail space with an additional 600,000 square feet in the pipeline Over 2 million square feet of retail space with an additional 600,000 square feet in the pipeline

18 Mixing It Up Mixed-use developments continue to spring up around Coral Gables 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 Coral Gables also boasts an impressive mix of national, international and local tenants, both residential and commercial

19 Coming Soon Currently there are over 40 commercial development and residential projects the pipeline in Coral Gables in both office and retail. 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. 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.

20 Recreation Abounds Fairchild Tropical Gardens Fairchild Tropical Gardens Matheson Hammock Matheson Hammock Waterways Waterways Golf Courses Golf Courses City Parks City Parks The Venetian Pool The Venetian Pool

21 Gastronomical Delights Over 120 restaurants Over 120 restaurants Cuisines from the four corners of the globe Cuisines from the four corners of the globe Internationally acclaimed chefs Internationally acclaimed chefs Close to $120 million dollars was spent in food and beverage sales in 2004 Close to $120 million dollars was spent in food and beverage sales in 2004

22 Culturally Speaking THEATRE: Actors' Playhouse at the Miracle Theatre THEATRE: Actors' Playhouse at the Miracle Theatre ART GALLERIES: Coral Gables International Art Center ART GALLERIES: Coral Gables International Art Center WINE TASTINGS WINE TASTINGS INTERNATIONAL CUISINE INTERNATIONAL CUISINE NIGHTLIFE NIGHTLIFE MUSEUMS AND CULTURAL CENTERS MUSEUMS AND CULTURAL CENTERS

23 KERDYK KNOWS CORAL GABLES Kerdyk Real Estate, the oldest real estate brokerage in Coral Gables, has been involved in commercial real estate since 1926 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 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

24 Credits City of Coral Gables and the City of Coral Gables website: www.coralgables.com City of Coral Gables and the City of Coral Gables website: www.coralgables.com www.coralgables.com Business Improvement District of Coral Gables: www.shopcoralgables.com Business Improvement District of Coral Gables: www.shopcoralgables.comwww.shopcoralgables.com Robin Burr, Pedestrian Pocket Guide to Coral Gables, Florida: www.pedestrianguides.com Robin Burr, Pedestrian Pocket Guide to Coral Gables, Florida: www.pedestrianguides.com www.pedestrianguides.com


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