Colliers South Florida represented Red Phone Booth in the lease for 4,516 square feet of retail space at 1010 Brickell Avenue

November 17, 2021, Author: NAIOP Commercial Real estate association

With the limited amount of quality commercial space remaining in Brickell, Red Phone Booth has signed a new lease for 4,516 square feet of retail space at 1010 Brickell Avenue in Miami. The 1920’s prohibition-era themed speakeasy restaurant, bar, and cigar lounge currently has locations in Atlanta, Texas, and Tennessee. This will be the company’s first franchise location. 

Jonathan Rosen, Director of Colliers South Florida’s Retail Services team, represented the new franchisee owner of Red Phone Booth, Johnny Weber, in negotiating the lease valued at around $4 million. Rafael Romero and Katie Fernandes Espinoza at JLL represented the landlord, Mattoni Group. 

“1010 Brickell was a perfect fit for Red Phone Booth due to its central location to Brickell’s critical mass and its proximity to Brickell’s most successful restaurants and bars,” said Rosen. “The space is slightly hidden, which will nicely complement Red Phone Booth’s ’speakeasy’ feel and adds another exciting attraction to the vibrant Brickell nightlife scene.”

Red Phone Booth joins a plethora of restauranteurs relocating or expanding their concepts to the South Florida region. Restaurants were initially lured by looser COVID-restrictions over the past two years, but now opportunity abounds with continued mass in-migration. In Brickell alone, the population is expected to grow to 39,200 over the next five years, an increase of 15 percent. The popularity of Brickell’s retail market is demonstrated by a restaurant space vacancy rate that compressed 150 basis points to 10.8 percent in the past year.

“We are actively exploring new markets, and at the top of our list are Fort Lauderdale, Delray Beach, Naples and Tampa. We will consider other markets with strong office, hotel, and residential density in South Florida as well. A lease agreement in Palm Beach Gardens is being finalized,” said Weber. 

Slated to open at the end of summer 2022, guests will enter the genuine prohibition-era themed experience after securing a secret code and dialing it into a restored antique London-style red phone booth at the entrance. Red Phone Booth first launched its flagship location in Atlanta in 2016 and it quickly became a city favorite for its unique atmosphere, cocktails, delicious food and exceptional cigars. The concept was inspired by co-owner Stephen de Haan, whose grandfather held secret legendary lake house parties during the Prohibition Era. 

With plans for further expansion in the South Florida market, Red Phone Booth has retained Jonathan Rosen at Colliers to assist in their active search for more locations.