Augmented Reality App Launching in Miami to Help Drive Foot Traffic to Brick and Mortar Businesses

ARVISL Future is a Miami based technology startup founded by Krystal Kunyue Zheng, a recent Florida International University graduate. ARVISL Future is based at CIC Miami, the hub of South Florida's startup and technology scene.

This November, ARVISL is launching its first mobile application, SAVR, in Miami. SAVR aims to bring measurable foot traffic to local brick and mortar businesses with technologies like location based service and augmented reality. Zheng describes SAVR as the fusion of Pokemon Go and Groupon.

With location based services, SAVR can reach, measure and engage with local and tourism traffic at any specific location. By combining augmented reality and location based service technology, SAVR also allows businesses to showcase products in real life that are outside of their current geographic location.

Consumers are navigated to a business if they find its AR incentive enticing: complimentary drinks, food or swag items.Zheng has introduced an innovative marketing metric for physical businesses called “cost per traffic™", where brick and mortar businesses will measure how much an individual's foot traffic costs. SAVR provides performanced based service fees to businesses who decide to place AR incentives around the city. Therefore, businesses will only pay for foot traffic brought into their location.

“Instead of driving attention strictly to a web page, we're offering local businesses that aren't able to compete with national online retailers a way to survive in the digital age while maintaining the charm of their physical presence that has such a profound effect on our communities,” said Zheng.

SAVR will welcome Miami users and businesses for a first-hand experience this November. Users can download SAVR on both the iOS App Store and Android Google Play Store and businesses can participate in AR sampling by filing a request on the SAVR website.

Article by: Katya Demina

Developer Celebrates Plans to Revitalize Coconut Grove with Groundbreaking at Metronomic Place

Miami-based development company Metronomic Inc., led by Ricky Trinidad, broke ground last Thursday for the new, mixed-use office, retail and hotel project on Grand Avenue in Coconut Grove. The groundbreaking ceremony for Metronomic Place was attended by commissioner Xavier Suarez and is set to spearhead the long-awaited revival of this corridor.

The five-story building will have about 5,000 square-feet of Class A office space, 3,200 square-feet of ground floor retail space, and a 44-key boutique hotel. The lobby and hotel interior was developed by local firm One Design Build. Designer Hugo Mijares combined metal, concrete, wood and other raw elements to create a modern industrial design with Old American style. It will also feature an activated “green” rooftop with a pool and garden area that echo the natural aura Coconut Grove in known for. Metronomic Place has an estimated completion date of Winter 2019.

Ricky Trinidad, President of Metronomic, Inc., is a developer and resident himself in West Coconut Grove, and has deep roots to the community. He hopes the project will enhance the vitality of Coconut Grove’s commercial and entertainment core.

He also just closed on a 7,200 square-foot site at 3110 Commodore Plaza called Commodore Place. The boutique hotel will offer loft-style, short-term suites with attractive amenities, a rooftop pool and garden deck area, and a two-story duplexed retail venue on the first floor.

Renderings for Commodore Place.

Miguel Pinto of Apex Capital Realty brokered the deal and represented Metronomic Inc. Like Ricky, Miguel is focused on working on projects and deals that enhance communities and positively impact the commercial real estate industry.

As part of Metronomic’s larger plan to revitalize Grand Avenue, they also have over ten new construction projects in the works in Coconut Grove. This includes a large-scale comprehensive development of multiple properties of mixed-income, affordable housing, retail, office, park plazas, and sustainable living concepts.

Article by: Katya Demina

Sears Lists Several Properties for Sale in Central Florida

Riding on the heels of an announcement last spring to close more than a 100 of its brick-and-mortar locations, Sears is continuing to unwind its real asset holdings. The struggling retailer has retained Avison Young Florida Capital Group in an exclusive to market and sell three department stores and the largest Sears distribution center in the state.

If successful, the sales will provide millions in much-needed cash flow to fund Sears struggling operations. The five properties, located in Daytona Beach, Port Richey, Tampa, and Ocala, total more than 2.35 million square-feet. The largest of the properties is the 1.93 million square-foot distribution center located at 655 Southwest 52nd Avenue in Ocala, and is also the largest industrial building in Florida.

Sale-leaseback deals have been a preferred method of disposition for Sears, which allow the retailer to downsize, but continue its day-to-day operations. It hopes to raise its liquidity and return to profitability.  

The Avison Young marketing team includes principal and managing director Michael T. Fay, principals John K. Crotty and David Duckworth, senior vice presidents Jay A. Ziv and Ray Hayhurst, and senior associates Joshua Ladle and Brian de la Fé.

Article by: Katya Demina