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iami Beach retail brokers Jared Robins and Jordan Gimelstein believe the recent arrival of Vivienne Westwood on South Beach signals a potential revival for Collins Avenue. They're marketing six Art Deco commercial buildings along a six-block stretch, hoping to sell them as a package deal or individually to interested buyers for around $50 million.

    The duo is optimistic about the area's prospects after London-based fashion brand Vivienne Westwood purchased a two-story storefront at 736 Collins Avenue for $6 million in September. "We made it our mission to revitalize and bring back Collins Avenue," Robins said, adding that they've assembled as many properties as possible.

    In addition to representing the sellers of the six properties, Robins and Gimelstein are also in contact with owners of at least 10 other surrounding properties who are willing to accept offers. Ideally, an institutional investor would share their vision of transforming Collins Avenue into a high-end retail street.

    The properties being sold include the building at 751 Collins Avenue, previously leased to Aldo Shoes; the building at 826 Collins Avenue, which was once home to Levi's; and The Webster building at 1220 Collins Avenue, headquarters of a Miami Beach-based fashion house. Many national retailers left Collins Avenue in recent years due to the rise of more luxurious districts and pandemic-related retail shocks.

    However, Robins and Gimelstein believe that with the right brands, Collins Avenue can reach asking rents of $150 per square foot within three years, up from its current $50-$80 a square foot. They point to Vivienne Westwood's acquisition as an encouraging sign and note recent deals, including the sale of a retail building at 616 Collins Avenue for $5.9 million, which will house a private membership venue called Terrior Wine Club.