Kimco Sells Land in South Florida to Spirit Airlines for New $250M Global Headquarters

by Alex Tostado

DANIA BEACH, FLA. — Kimco Realty Corp. has sold approximately nine acres of land at its Dania Pointe mixed-use development in Dania Beach, near Interstate 95 and Stirling Road in Broward County. The buyer, Spirit Airlines, will develop a new global headquarters at the site, investing up to $250 million for the creation of a corporate campus that will support more than 1,000 employees in up to 500,000 square feet of space. The airline has also executed a ground lease for an additional land parcel for the construction of a Spirit corporate training residence.

Dania Pointe is a 102-acre mixed-use development with nearly 1 million square feet of retail and restaurants, in addition to apartments, hotels, offices and public event space. The project is located five miles southeast of Fort Lauderdale near the Fort Lauderdale-Hollywood International Airport. Construction of the Spirit Airlines headquarters is expected to begin in 2021, with an anticipated transfer of employees in mid-2022. Phase I of the 102-acre Dania Pointe development opened in November 2018 and spans approximately 330,000 square feet of retail, now 96 percent leased to brands including T.J. Maxx, Hobby Lobby, Ulta Beauty, BrandsMart, Five Below, Shoe Carnival, Starbucks, and Youfit Health Club. Kimco has also recently signed leases with Urban Outfitters and Anthropologie, both slated to open at Dania Pointe this year as part of the retail component of Phases II and III, now approximately 69 percent preleased.

Phases II and III will also include the Spirit Airlines headquarters, an additional 417,000 square feet of mixed-use retail, dining and entertainment, along with ground leases for two Marriott hotels and 850 residential apartment units, of which the first 264 are now under construction. Additional Phase II and III tenants include Bowlero, Lucky Brand Jeans, Tommy Bahama, Cooper’s Hawk Winery & Restaurant, Firebirds Wood Fired Grill, Foot Locker, Lindbergh, Regal Cinemas and Saito’s Japanese Steakhouse. Phase II and III tenant openings began in the fourth quarter of 2019 and will continue through 2020.

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