CATCH Restaurant 200 S Pointe Dr

Jones Lang LaSalle Americas, Inc (“JLL”) is pleased to exclusively offer the opportunity to acquire CATCH (the “Offering” or “Property”), Miami Beach’s quintessential restaurant for seafood, sushi, and steakhouse dining. The Offering has approximately 15 years of remaining lease term generating $1,500,000 in annual net operating income with minimal landlord responsibilities as well as 2.0% rental escalations annually. Moreover, future ownership may benefit from a percentage rent feature of 7% on gross sales over $25M, which proves likely given the echelon of surrounding restaurants, such as Papi Steak, Joe’s Stone Crab, and Prime 112, generating $31M on average annually.
Located at 200 South Pointe Drive in Miami Beach within the most luxurious and high growth ‘South of Fifth’ neighborhood, the Property is one of the few freestanding, fee-simple restaurant opportunities with a rooftop to ever be offered for sale within this prestigious micro-market in Miami Beach. This is nestled in the heart of the premier Ocean Drive retail corridor, where the red-hot dining options already include Joe’s Stone Crab, Prime 112, Carbone, and Stubborn Seed and high-rise apartments, such as Continuum Towers, can fetch more than $3,000 per square foot. The world-class operator accepted the property with no tenant improvement allowances and dedicated ~$20 million for renovations, demonstrating their desire to build presence in the Miami Beach market. The New York-based restaurant group used their own capital to opened its doors with an unparalleled concept, unveiling an opulent and more glamorous venue. Spanning 20,630 square feet, CATCH Miami Beach features an indoor dining experience and an open-air rooftop terrace, offering the ultimate blend of elegance and ambiance. The venue’s design, by Rockwell Group, pays homage to Miami Beach’s illustrious history with a touch of 1920s glamour – a nod to the city’s golden era, frequented by the elite and the iconic. The refined Mediterranean Art Deco influences are woven throughout, with the use of antique mirrors, marble, wood contrasts, and dramatic lighting, creating a conservatory-like atmosphere. Founded in 2011, Catch Hospitality Group has thoughtfully expanded from a standalone New York City flagship into one of the most dynamic hospitality experiences found across seven major markets.
CATCH Miami Beach represents a truly generational opportunity to acquire a market dominant, trophy restaurant asset of scale in Miami’s magnificent ‘South of Fifth’ neighborhood with durable in-place cash flow and a high rent-to-sales ratio.