West Elm Signs Lease for Local Debut

(For more retail coverage, click GlobeSt.com/RETAIL.)

MIAMI-West Elm, the retail home furnishings subsidiary of Williams-Sonoma, has signed a 12-year lease for 16,431 sf in Downtown Dadeland. The aggregate value of the lease is in excess of $8.5 million, and the deal represents the retailer’s initial entry into South Florida.

The $165-million, seven-building, mixed-use Downtown Dadeland is a joint venture between locally based Gulfside Development Co. and Los Angeles-based Canyon-Johnson Urban Fund, which is a subsidiary of Earvin Magic Johnson’s Johnson Development Corp. It encompasses 416 residential condominiums, parking for 569 vehicles and 125,000 sf of retail.