Tom Brady to Open CardVault Store at Miami Worldcenter as Downtown Retail Rents Jump 63%

Tom Brady will make his retail debut at Miami Worldcenter, signing a 2,470-square-foot lease for a CardVault by Tom Brady sports trading-card and memorabilia store, expected to open in December. The seven-time Super Bowl champion quarterback joins a tenant roster that includes Apple, Lululemon, Sephora and Starbucks at Art Falcone's 300,000-square-foot retail center. Downtown Miami retail rents climbed to $56.62 per square foot in the third quarter from $34.76 a year earlier, a 63% increase, according to Colliers. Vacancy fell to 6.3% from 10.7% over the same period as inventory shrank to nearly 2.8 million square feet from 3.5 million. Comras Company represented the landlord; Lantern Real Estate Advisors + Partners represented the tenant. Miami Worldcenter, part of a $6 billion master-planned community, accounts for 11% of neighborhood retail inventory, making it downtown's largest retail center outside Brickell.